Iron ore prices rose on Australian supply disruption concerns due to the hurricane season.
March iron ore futures on the Singapore Exchange rose 2.16% to $150.95 per tonne at 10:52 a.m. Mecca time.
According to a note issued by the Chinese consulting firm Hexun Futures, Australia is currently experiencing a hurricane season, which threatens to disrupt shipping operations from its ports, according to Reuters.
The Anglo-Australian Rio Tinto Group said in a statement that it had begun withdrawing iron ore tankers from two ports in western Australia after two hurricanes made it difficult to repair damage to infrastructure there last month caused by another hurricane.
