up for the 7th consecutive day

“Essentially producers stopped producing, with that the market started stabilizing,” Nogueira said. “We believe it has reached rock bottom.”

Iron ore for immediate delivery gained 8 percent since reaching its lowest level in almost two years on Oct. 28. The price rose 1 percent to $126.30 a ton today, its seventh consecutive increase, according to The Steel Index Ltd.

http://www.bloomberg.com/news/2011-11-08/vale-says-iron-ore-prices-have-stabilized-and-are-increasing.html