“Essentially producers stopped producing, with that the market...

“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