Spot iron ore prices just zoomed past the September 2014 high with futures off the charts as well:
These moves higher are in the face of lower imports, with data released yesterday via Mining.com:
Trade figures released overnight showed China imported just under 89 million tonnes of iron ore in December, down 3.2% month on month. The value of imports for December was the highest since September 2014 with the benchmark price averaging just under $80 during the month.