Even with thermal coal demand rising, along with coal imports from China, Arch Coal, Inc. (NYSE:ACI), L&L Energy (NASDAQ:LLEN), Macarthur Coal Ltd. (MCC) and Cloud Peak Energy Inc. (NYSE:CLD) still closed mixed Thursday with the rest of the coal industry, as the sector took a break.
Coal prices in China have been soaring as domestic producers face higher costs. That has led to Chinese utilities looking outside the country for cheaper prices.
According to China Coal Transport and Distribution Association imports in May will increase as a result of the domestic market conditions in the country.
Inventories at ports continue to be low, which should cause domestic coal prices to continue to push up, increasing the coal imports, which will benefit any coal producer with exposure in China.
Cloud Peak Energy Inc. closed Thursday at $19.59, falling $0.59, or 2.92 percent.
Friday, May 6, 2011
Arch Coal (ACI) (LLEN) (MCC) (CLD) Trade Mixed
Labels:
Arch Coal,
Cloud Peak Energy,
LL Energy,
Macarthur Coal
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