There is surging demand in China, steel mills have restarted and Australian firms are struggling to fill orders for a metallurgical coal price rise to $160 a metric tonne from less than $100 a few months ago. People are also looking for freight from the US to China. Morgan Stanley analysts mention that there is spot price "momentum" toward $175 a tonne.
Continue reading "Continued Tightness In Coal Market"
Wednesday, April 15, 2009
While U.S. coal miners are likely to report strong quarterly profits this month, weak demand and a supply glut could hover the industry’s prospects for the rest of the year. For full story, click here
Continue reading "U.S Coal Miners see higher profits despite dwindling price"
Thursday, April 2, 2009
For hundreds of years engineers and scientists have tried to find better ways to rescue coal miners trapped underground as this industry is one of the world’s most hazardous occupations. For full story, click here
Continue reading "Scientists develop systems to rescue trapped coal miners"
Tuesday, March 31, 2009
After a dark winter for Canadian coal producers, spring supply contract negotiations halfway around the world are providing a glimmer of light at the end of the mine shaft. As news of the pricing agreement filtered through the market last week, Canadian coal stocks have reaped the benefits.
Continue reading "Coal Sees Glimmer Of Light"
Monday, March 2, 2009
Coal stocks have been hit hard in this recession, given slumping electricity demand in the U.S. and the sharp drop-off of steel demand. For shareholders of Patriot Coal Corp (PCX: NYSE), the pain has been particularly acute. The stock lost 96 per cent of its value since last June's record highs. This year alone, Patriot's stock is down 41 per cent versus a 1 per cent decline by the Dow Jones U.S. Coal Index.
Continue reading "Coal Stocks Swing"
Friday, February 13, 2009
We are into the second half of the second month of 2009 and pressure on coal prices have not eased. While the long-term outlook in this sector remains strong, thanks to strong fundamentals, spot prices continue to be under pressure. The reasons are being cited as high utility coal inventories, lower demand for electricity and competition from natural gas.
Continue reading "Coal: Bullish On The Long Term"
Friday, February 13, 2009
Legislators from across the state, including Representative Lee Alcon, Senator David Ulibarri, Cibola County Commissioner Eddie Michael, mining company representatives and Lieutenant Governor Diane Denish attended the annual New Mexico Mining Association Dinner on Feb. 10 at Santa Fe’s well-known Hilton Hotel. For full story, click here
Continue reading "Coal miners unhappy with state agencies"
Tuesday, January 27, 2009
Many existing producers also have shut down or curtailed output at mines and plants as high costs and low prices bite. For full story, click here
Continue reading "Many existing producers also have shut down or curtailed output"
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Thursday, August 20, 2009