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Arch Coal Inc. Message Board

  • red_gorilla_ff0000 red_gorilla_ff0000 Sep 4, 2013 5:46 PM Flag

    PRB coal is still not rising ... I am losing patience

    Recent two weeks and next two weeks are going to be hotter that average. You would expect PRB prices should start rising ...

    I am not surprised with CAPP situation given NG price, inventories in CAPP utilities, recent overproduction, but when it comes to PRB, NG is not a competitor for something like 90% of PRB at the current prices, inventories are very low now ... what's going on?

    ACI & BTU said that the utilities are going to wait till September (to see what was summer burn) before start shopping. Well ... it is September. I would expect by now 2014 and 2015 futures should have risen. I do not see that happening!

    Front-month contracts are slowly going up. Last year this time PRB was 9.40 (increased from 8.50 in July, 2012) Now, next month contracts are something around 10.50 ... pathetic! Even more pathetic considering that in May they jumped above $11 for about a week.

    The sad part is that in 10 days or so, we will be at the lowest inventories for the year and chances are they are go up (seasonally). Much easier to negotiate prices at the lowest inventories ....

    Sentiment: Hold

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