The spot reference price for 62% Fe iron ore cfr North China rose 0.7% to $132.60 for the week ending July 26, 2013, the highest price since April 30, 2013.
The spot price for iron ore averaged $112.12 in 3Q12, $120.57 in 4Q12, $148.16 in 1Q13, and $125.76 in 2Q13; the full-year 2012 average was $128.30.
The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.
Source: The Steel Index
2Q13 is up 12% over 2Q12
Week ending 7/26 is up 5.4% over 2Q13
Interesting but not yet a huge change.