High-grade iron ore prices are soaring after another mining...

High-grade iron ore prices are soaring after another mining disaster in BrazilIMAGE: ore grades diverged sharply on Monday. Mid and higher grades soared while lower grades tumbled.Another deadly disaster at a Brazilian iron ore mine operated by Vale explains the scale of the divergence seen during the session, sparking concern about renewed supply disruptions for higher grade ore.The benchmark iron ore price logged its largest gain in over a year and now sit at the highest level since early March 2017.Iron ore spot markets diverged sharply on Monday with lower grades tanking as mid and higher grades soared.The catalyst was yet another deadly mining disaster in Brazil, raising concern about the potential for supply shortages in higher grade ore.According to Metal Bulletin, the spot price for benchmark 62% fines jumped 4.7% to $78.18 a tonne, leaving it at the highest level since early March last year. Not since Late December 2016 has the benchmark logged a larger daily percentage gain.image: https://edge.alluremedia.com.au/uploads/*/2019/01/MBIOI-Jan-29-2019.jpgHigher grades were also bid with the price for 65% Brazilian iron ore fines lifting 2.8% to $91.60 a tonne, a fresh multi-month high.Read more at https://www.*.com.au/iron-ore-price-grades-vale-corrego-mine-disaster-2019-1#