It is reported that analysts at Goldman Sachs have cut coking coal prices, saying that they see a slower, longer grind back to mid cycle.

Goldman cut 2013 met coal prices by 8% to USD 178 per tonne

Goldman cut 2014 met coal prices by 3% to USD 195 per tonne

The firm said reductions to their forecasts for China, Europe and Japan seaborne imports mean less Australia and US exports should be needed.

In addition, they see less parity support from Chinese domestic prices after the Goldman Sachs China coal team lowered domestic met price forecasts by 7% December 4.