Iron ore has been one of the most volatile commodities over the last 24 months. Just a couple of years ago, iron ore prices were approaching the $200/ton mark — specifically, iron ore spot was at $191/ton in February 2011. Then, just a few months ago, in September 2012, spot prices were down more than 50 percent from their February 2011 high, trading at $87/ton.
Iron ore began the year on a fairly positive note after rebounding from September lows to settle at $145/ton in early January………………………………………..Full Article: Source