Iron ore prices rose on Friday, March 22 as cyclone Veronica closed on the Pilbara iron ore ports of Port Hedland and Dampier.
The storm made landfall around Port Hedland and Dampier on Sunday.
The Metal Bulletin 62% Fe index price rose $1.47, or 1.7% to end at $US85.96 on Friday.
That was down 56 cents from the close the previous Friday of $US86.52 for 62% Fe ore delivered to northern China. That compared to a $US85.77 close two weeks ago.
The rise came despite Vale, the miner, winning government clearance to resume iron ore shipments from its 30-million-tonnes-a-year Brucutu iron ore mine in Minas Gerais, in southeastern Brazil.
That should wipe 35 million off the estimated shortfall of 93 million tonnes in the wake of the January 25 dam disaster that continues to buffet the company.
But on the weekend came news of Vale warning that another dam could collapse at any moment.
Value issued a statement in which it raised the level of risk at the mining waste dam in the city of Barao de Cocais to three, the highest grade, meaning it could break down imminently.
State authorities on Friday night ordered the evacuation of nearby communities.
This was separate to a court in the city of Nova Lima, Minas Gerais state, ordering Vale to halt operations at the iron ore complex of Dique III in the state, according to Reuters.
