As such there have been the full gamut of possible explanations for the move: China potentially loosening its monetary policy further, major planned new infrastructure projects, rising house prices in China, commodity production limits and cuts, supply disruptions, and plenty more.
A welcome +66.4 per cent rebound in iron ore prices is obviously great news for Australia. Whether or not prices prove to be sustained is another matter.
The nature of commodities markets is that prices and therefore revenues can be cyclical.
But as Reserve Bank Governor Glenn Stevens has pointed out, although spot prices may be well down from their peaks, we are shipping ore cargo in huge volumes that could not have been imagined even one decade ago.
This has left Australia, and the State of Western Australia in particular, much richer as a result, and as such the mining boom is a good news story.
In a speech in December, Stevens noted that the resources boom would permanently boost income and wealth, with the bulk commodity price and volumes considerably higher than one decade ago, even when they were at their most recent nadir.