Current spot price around $100us a ton for fines(below)
http://www.ft.com/cms/s/0/54066fda-7722-11de-b23c-00144feabdc0.html
http://www.metalbulletin.com/Article/2259476/Spot-iron-ore-price-rises-to-94-95-on-higher-freight.html
... and your statement of $100usd a ton at the height of the boom is grossly inaccurate. Try doubling that.(below)
http://www.econstats.com/rt_ironore.htm