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Reuters reported in the hope steel mills will continue to boost production in China spot iron ore prices held near $120 a tonne.
Reuters reported in the hope steel mills will continue to boost production in China spot iron ore prices held near $120 a tonne.
As quoted in the market news:
Iron ore is up nearly 15 percent in October, its second monthly gain in a row, after a recovery in Chinese steel prices in September encouraged producers to restock on the raw material.
Benchmark iron ore with 62 percent grade iron content was little changed at $119.80 a tonne on Tuesday, according to Steel Index.