From the AFR:
Goldman Sachs Group has responded to the dramatic coking coal rally by saying higher prices for this year’s best performing commodity may be here to stay.
Spot hard coking coal has more than doubled this year to trade above $US205 a tonne as a new Chinese government policy reduced the number of annual working days at its mines. Goldman, in a note dated Thursday, raised its 2017 price forecast by 64 per cent to $US135 a tonne and its 2018 estimate by 47 per cent to $US125. That compares to the current third-quarter contract price of $US92.50.