(Yicai Global) May 7 -- Chinese iron ore futures contracts have jumped near 4 percent today after a Brazilian court ruled that the world's largest iron ore producer, Vale, must suspend production at Laranjeiras tailings dam and Brucutu mine. 

The most actively traded contract on the Dalian Commodity Exchange was traded at CNY658.0 (USD97.2) per ton at lunch break, up 3.87 percent from yesterday.

A judge reversed a decision by a lower court to allow Vale to resume production after one of its dams collapsed in January, the second in just a few years, the Rio de Janeiro-based firm said in a statement yesterday. 

The deadly tailing dam collapse on Jan. 25 killed at least 235 people, and 35 were still missing as of May 4.

Editor: James Boynton