Met Coal producers are struggling to avoid bankruptcy as the price plummets. Walter Energy, Arch Coal, and Alpha Natural Resources are all selling their coal at a huge loss right now, and all three have ugly negative earnings.
Walter has gone from a 5 year high of $138 per share to $1.49
Arch has gone from a 5 year high of $36 per share to $1.76
Alpha has gone from a 5 year high of $65 per share to $1.53
Now thats what I call being crushed. And the prediction is for Met Coal prices to fall even more before they eventually recover.
Met Coal Price Plummets to $117/Ton (Down From $300 in 2011)
- McGiever
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Beside steel making, who uses Metallugical Grade of Coal?
I thought USA steel was now made primarily from melting scrap metal.
So Met. Coal is an Export commodity, no?
I thought USA steel was now made primarily from melting scrap metal.
So Met. Coal is an Export commodity, no?
- McGiever
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How many Barge or Ship Loads can you take right now?scoobydoo wrote:Where can I get some of this inexpensive coal?!
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Lol.None.I don't think a ship will make it over the dam.McGiever wrote:How many Barge or Ship Loads can you take right now?scoobydoo wrote:Where can I get some of this inexpensive coal?!
- lsayre
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There is Thermal Coal and there is Met Coal. Thermal coal is used to generate heat. Met Coal is used to make coke, which is used to make steel. My guess is that most of it goes to China.
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Thank you for the info.I did not know that.lsayre wrote:There is Thermal Coal and there is Met Coal. Thermal coal is used to generate heat. Met Coal is used to make coke, which is used to make steel. My guess is that most of it goes to China.
Man I can't wait for that recovery part of the plan. I lost big on Arch and James River...lsayre wrote:Met Coal producers are struggling to avoid bankruptcy as the price plummets. Walter Energy, Arch Coal, and Alpha Natural Resources are all selling their coal at a huge loss right now, and all three have ugly negative earnings.
Walter has gone from a 5 year high of $138 per share to $1.49
Arch has gone from a 5 year high of $36 per share to $1.76
Alpha has gone from a 5 year high of $65 per share to $1.53
Now thats what I call being crushed. And the prediction is for Met Coal prices to fall even more before they eventually recover.