This jump in price is because of a record import of iron ore by...

This jump in price is because of a record import of iron ore by China.

Very obvious that the price drop to reduce emission by China earlier this year was a ruse to control the price.They are still building coal power stations and their coal usage is to the roof at the moment.

The toxic emission even travelled as fas as South Korea.

South Korea actually benefited from low supply of steel caused by reduced supply from China.
Their steelmaker Posco recorded a revenue increase of 45% to 20.6 trillion won in the third quarter.

https://www.reuters.com/business/steelmaker-posco-reports-highest-ever-quarterly-profit-q3-2021-10-25/
"South Korean steelmaker POSCO (005490.KS) reported its highest-ever quarterly operating profit in the third quarter, as a surge in steel prices was fanned by reduced supply from China."

Obviously China is missing out on this profit from steel production so they want to go back in.
They don't care about the environment.

Bottomline is, China can't survive without steel production even with the real estate in danger of collapsing.
Whatever commodities they try to 'ban' eventually rose in price.
Coal.
Barley.
Wheat.
Iron Ore is next.