The iron ore marketfirmed Tuesday as low stocks stimulatedend demand and prices. Platts 62% FeIODEX rose $1/dry mt to $71.75/dmtCFR North China.Mills would need to procure to maintainproduction after hand to mouth buyingof late, a source with a large Chinesestate-owned steelmaker said. A trader inShanghai said mills were moving to buy asspot prices were sufficiently low — recentdrops in steel have been outpaced bydeclines in raw materials, meaning millshave had some margin.
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