Alpha Cuts Steelmaking Coal Outlook as Export Market ‘Awash’
This article is for subscribers only.
Alpha Natural Resources Inc., the second-largest U.S. coal producer, lowered its metallurgical coal sales forecast for 2012 as steel output declined in Europe and slowed in China.
Alpha’s average realized price for metallurgical coal will be $136.06 a ton in 2012, including 2.4 million tons of coal sold at $105 a ton, the Bristol, Virginia-based company said in a statement today. It forecast an average 2012 price of $146.31 a ton in May. The shares fell as much as 10 percent.