You've asked about a comparison with 2000-2001 tech bubble, and compared it purely by some of the price action.
The tech bubble was based on valuations that were unrealistic, when viewed in any normal economic way. Investment banks were saying 'this is a new business paradigm, earnings are not important, etc.'.
The commodities cycle has been driven by real earnings, e.g. the iron ore and coal prices actually delivered to the market are real, driven by real demand.
Keep in mind that China, a country of over a billion people, is moving from the middle ages to the 21st century in a few decades. It is not some kind of pie-in-the-sky 'let's think up a number' pipe dream.
