Iron ore probe dumped after China's Brazil deal; bad news for FMG
Analysts are tipping the iron ore price will return to historic lows following a supply agreement between China and Brazil that could put more pressure on Andrew Forrest's Fortescue Metals Group .
The predictions came as Mr Forrest's attempt to embarrass his biggest competitors, BHP Billiton and Rio Tinto, failed when the Abbott government dumped plans for an inquiry into iron ore, less than a week after publicly advocating such a probe.
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