It won't be long until we get the full picture on the conference call.These new prices will allow us the ability to open our new production with long term contracts that make sense for future stock appreciation.Great news out of China for huge future price increases.The USA has the only unused stable capacity for future supply.
Surging demand and a weak dollar is helping U.S. coal producers increase sales internationally. The weak dollar allows it to sell the commodity for lower prices than other countries, increasing demand for U.S. coal.
Stifel Nicolaus analyst Paul Forward said that the slumping dollar has allowed U.S. coal producers to boost production and gain a bigger stake in a rich overseas business.
The weak U.S. currency and surging demand for coal in Europe and Asia, drove exports up 21 percent from July to October compared with the same period in 2006, Forward said. Total U.S. coal exports rose 12 percent in the first 10 months of 2007, he said. As demand surged, prices also rose. Coal delivered to Europe rose to about $127 per ton at year's end, compared with about $77 in the middle of the year.
As of early November, the U.S. exported about 55 million tons of coal year to date, compared with 39.6 million tons during all of 2002.