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Alpha Natural Resources, inc. c Message Board

  • mrbone2000 mrbone2000 Mar 23, 2013 10:02 AM Flag

    We Are Not Out of the Woods Yet

    This info is about a week old now. I'm long but realistically it looks to me like we still have a ways to go before we are rewarded for investing in ANR.

    Platts News reports on a new research note from Daniel Scott of Cowen Securities released on Thursday that contains bad news for met coal producers.

    Platts notes buyers' sentiment weakening in recent weeks with the marketplace and research company's low-vol spot price assessment falling to $161 a tonne yesterday down from $173 tonnes on February 21...

    "Though recent Chinese import and steel production data registered at elevated levels, high inventories and weakening steel prices may pressure met coal pricing," the note said.

    The US and Europe, given public spending pressures, are unable to greatly boost spot demand, leaving China to determine direction for met coal prices, the bank noted.

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