Miners were among the top gainers on the FTSE 100 after China’s iron ore price reached a record high amid concerns about a supply shortage. In early morning trading, the price rose to 774.5 yuan ($112.18) a tonne as investors assessed the risk of further dam closures in Brazil while demand remained resilient. Vale, the mining giant, has slashed its iron ore sales estimates this year following the fatal collapse of its Brumadinho dam and the closure of its Brucutu mining complex, both in Brazil. The miner has since warned of the risk of disruption at its Gongo Soco mine in the country. Rio Tinto rose by around 148p, or 3.2 per cent, to £47.90 this morning; Antofagasta added 14¼p, or 1.8 per cent, to…

Source: The Times May 28, 2019 11:03 UTC