No decision on iron ore inquiry, Abbott

Prime Minister Tony Abbott says the government hasn't made any decision to have a parliamentary inquiry into iron ore prices.

The prime minister has cautioned against a one-sided parliamentary inquiry into Australia's biggest iron-ore producers.

Tony Abbott told reporters in Sydney on Tuesday the government hadn't made any decision to have an inquiry and sought to reassure mining companies and trade partners the government would not interfere in the iron ore market.

"The last thing we would want is a one-sided inquiry which degenerates into a witch hunt against some of our best companies," he said.