Coal as an Input for Steel Industry: Due to its heat-producing feature, hard coal (metallurgical or coking coal) forms a key ingredient in the production of steel. Nearly 70% of global steel production depends on coal.
Per a release from the World Steel Association, the world crude steel production touched 1,662 million tons (Mt) in 2014, up 1.2% over the prior year. An earlier report from World Coal Association had estimated a 2% improvement in steel usage in 2015 from 2014 levels
Walter Energy noted it does not have a current liquidity issue, as it had approximately $435 million of cash and investments as of March 31, 2015. It will continue to deliver high quality met coal to customers and meet its other obligations as it works with its debtholders to address the Company's capital structure.