J.P. Morgan cuts its coking coal price forecasts

Dec 12, 2008 | 11:36 AM | Mick Bowen

J.P. Morgan Securities Inc., New York, has lowered its coking coal price forecast to $135 a tonne from $200 for 2009 and 2010.

Hard coking coal is seen at $135 a tonne, and semi-soft material at $90 for the period.

"Given the high volatility and uncertainly in the current market . . . we continue to see downside risks to the current pricing environment," J.P. Morgan analyst John Bridges wrote in a report.....

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