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News Breaks | | | | February 5, 2013 | | 08:47 EDT |  | ACI | Arch Coal sees 2013 sales from company-controlled operations 133M-144M tons
Arch Coal expects sales from company-controlled operations of 133M-144M tons for 2013. Included in this range are projected sales of 8M-9M tons of metallurgical coal. At expected volume levels, Arch said it is nearly 90% committed on thermal sales for 2013. Given the below-capacity production levels set for 2013, Arch currently anticipates that cash costs per ton in each of its operating regions will be similar to 2012 levels. Capital expenditures totaled $395M in 2012, which was $145M less than in 2011 and $25Mless than the company's projected spend. For 2013, Arch expects capital spending to be at or below $350M, which includes $100M for the completion of the Leer metallurgical mine in Appalachia and $80 million for reserve additions. The company said, ""We expect 2013 to be a rebalancing year for global and domestic coal markets, and our current guidance range reflects this assumption. Coal price increases are likely to follow what we expect will be improving coal supply and demand trends. As such, we believe our performance in the second half of 2013 is likely to be stronger than in the first half." | |
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News For ACI From The Last 14 Days Check below for free stories on ACI the last two weeks. |
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| June 15, 2013 | | 17:40 EDT |  | ACI | Coal industry counting on export demand as U.S demand wanes, NYT says
The U.S. coal industry is trying to revive itself with exports to Asia and Europe as environmental groups in opposition to the fall-out of coal use "say pollution caused by burning coal should not be exported," says the New York Times. The push for more export business is part of the U.S. coal industry's effort to expand exports as the U.S. has increasingly turned to natural gas as an alternative, adds NYT. Reference Link | | | June 14, 2013 | | 13:23 EDT | | ACI | Walter Energy falls after reportedly canceling refinancing loan
 Subscribe for More Information | | | 05:45 EDT | | ACI | Coal exports fall on Asian oversupply, WSJ reports
Coal exports are slowing, reports the Wall Street Journal. In a troubling sign for U.S. coal producers, shipments fell 31% in April from March driven largely by an oversupply in Asia for metallurgical coal used in steel making. As a result, U.S. producers are now at a further disadvantage to overseas competitors because weakening metallurgical-coal prices are making high-cost U.S. production less profitable for export.Reference Link | | | June 10, 2013 | | 11:54 EDT | | ACI | European coal prices fall as forecasts cut, Bloomberg reports
Subscribe for More Information | | | June 7, 2013 | | 10:11 EDT |  | ACI | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 08:14 EDT |  | ACI | Raymond James downgrades Coal producers
Raymond James lowered its 2013/14 met coal price forecast due to resilient supply growth and slowing demand and believes a recovery could be longer than expected given declining global GDP growth and a potential slowdown in China demand. As a result, the firm downgraded Arch Coal (ACI), James River Coal (JRCC), and Walter Energy (WLT) to Underperform from Market Perform, Alpha Natural (ANR) to Underperform from Outperform, and Peabody Energy (BTU) to Market Perform from Outperform. | | | 07:49 EDT | | ACI | Arch Coal downgraded to Underperform from Market Perform at Raymond James
Subscribe for More Information | | | June 5, 2013 | | 09:07 EDT |  | ACI | BofA/Merrill's metals and mining analysts hold analyst/industry conference call
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