Spot iron ore prices firmed again Tuesday as the stronger steel market fuelled greater replenishing interest. Platts 62% Fe IODEX was assessed $1.50/dry mt higher at $53.50/dmt CFR. The stronger steel market seemed to boost demand, though some sources said it was primarily traders taking positions. Construction steel stocks have fallen almost 7% over the last week, to 4.67 million mt, according to an industry report released Monday. Such inventories have been falling for the last fortnight, evidence of stronger sales.
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