Iron ore prices for February 21, 2017:
Spot at new highs. Paper reversed overnight. Steel is now into super cycle highs and this is its biggest move ever by far. Iron ore has a free pass while it behaves this way. The two coals reversed course as the North Korean ban was taken in stride by the market.
Nothing changed. An amazing market right now. The hottest I have ever seen. Global steel output helps explain it, from World Steel: