Coal Hits a Wall in US Market
Sliding demand is forcing US coal producers to reassess their future after several American miners shut down capacity and shifted focus abroad.
Sliding demand is forcing US coal producers to reassess their future after several American miners shut down capacity and shifted focus abroad.
While 2011 was not as radiant as its long term coal projections, both thermal and coking coal markets saw consistent production and consumption growth.
The Bedford Report released research on the coal industry, including Arch Coal (NYSE:ACI) and Alpha Natural Resources (NYSE:ANR).
Reuters reported that shares of Alpha Natural Resources (NYSE:ANR) improved on the announcement of higher than anticipated quarterly profits.
Paragon Report released research on Patriot Coal Corporation (NYSE:PCX), Alpha Natural Resources, Inc. (NYSE:ANR) and the outlook for the coal industry.
Reuters reported that stock prices for Alpha Natural Resources (NYSE:ANR) and Walter Energy (NYSE:WLT) fell on weaker demand and shipment forecasts.
Various natural disasters, coupled with continued demand growth from emerging markets, have supported strong prices of both thermal and metallurgical coal markets in 2011, but expect prices to slide in Q4.
Platts reported that Alpha Natural Resources (NYSE:ANR) was the winner of a bid process for a coal tract in Wyoming.
Bloomberg reported that costs for the takeover of Massey Energy Co. pushed profits down for Alpha Natural Resources (NYSE:ANR).
Alpha Natural Resources Inc. (NYSE:ANR) announced that some of its affiliate companies were recognized for accomplishments in safety.
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