A black hole has opened with Vale, so substantiating the basis for this sudden spike. I suspect (after having watched "Rumble in the Jungle" many times) that a re-balance of the SP will occur as mining operations normalize in Brazil. There are many incidents of catastrophe affecting share price whether nature or mechanical and the actual calculation to recast the SP is quite complicated as "o'shite" isn't part of my ASCII character set.
Unless my 2 yo starts mining ore in the backyard with his plastic spade, we have to assume the SP rise is more than just a Parabolic whoops.
Iron ore price, page-9703
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