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Vale Stock Climbs on Higher Iron Ore Prices

NEW YORK (TheStreet) -- Vale (VALE - Get Report) stock is climbing by 0.95% to $5.34 in mid-afternoon trading on Monday, as iron ore prices near $60 per ton.

Benchmark Australian ore for immediate delivery to China was assessed at $59.90 per ton today, up by $2.40, according to the Financial Times.

Iron ore prices have risen more than 40% this year, as a pickup in construction and China's property market has strengthened expectations for steel demand, the Financial Times adds. China's iron ore imports...