China is at a point it cant stop production. China needs to keep production going because it will create massive social unrest. At the moment there is a surplus of iron ore and surplus capacity.
Expanding markets will probably help substitute lost markets but that doesn't counter over capacity. There seems to be a surplus capacity which should keep prices low.
Iron ore prices going from $25 to over $5 ton in 5yrs is hyper inflation and counter productive to markets.
Inflation of 15% per year is hyper inflation. Iron ore from 2007 to 2014 has reached that level at $62 ton therefore the price is not sustainable. Iron ore with inflation at 7% would be around $40 ton but still a bit high.
