Nomura Securities on Metal & Mining: U.S. Coal Export Monthly - ANR, CNX Clear Outperformers
Tweet Send to a FriendGet Alerts ANR Hot Sheet
Price: $7.04 -0.42%
Rating Summary:
9 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
9 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ANR Now!
Nomura Securities on Metal & Mining: U.S. Coal Export Monthly
Analyst, Curt Woodworth, said, "Strong Export Rebound in June as Asian Buyers Support the Market (34% MoM, 89% YoY), but Europe Still Weak (-10% MoM, -38% YoY). Coking coal exports to Asia reached the highest level on record in June at 2.3mt, while coking exports to Europe declined to 1.3mt, the lowest level since December of 2011. Thermal coal exports rebounded during the month. However, we note that the mix shift to Asia equates to lower profits for U.S. coal companies given weaker net backs. Alpha Natural Resources (NYSE: ANR) and CONSOL Energy (NYSE: CNX) Clear Outperformers, Sequential Improvements for Most Producers Highlight Continued Strength in Export Market."
Arch Coal (NYSE: ACI) – Volumes declined steadily during Q2, despite being higher YoY, as volumes to Europe decreased. During the quarter, exports to Brazil disappeared, which contributed 162kt during Q1, while the U.S. total exports increased 18.8% QoQ.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Curt Woodworth, said, "Strong Export Rebound in June as Asian Buyers Support the Market (34% MoM, 89% YoY), but Europe Still Weak (-10% MoM, -38% YoY). Coking coal exports to Asia reached the highest level on record in June at 2.3mt, while coking exports to Europe declined to 1.3mt, the lowest level since December of 2011. Thermal coal exports rebounded during the month. However, we note that the mix shift to Asia equates to lower profits for U.S. coal companies given weaker net backs. Alpha Natural Resources (NYSE: ANR) and CONSOL Energy (NYSE: CNX) Clear Outperformers, Sequential Improvements for Most Producers Highlight Continued Strength in Export Market."
Arch Coal (NYSE: ACI) – Volumes declined steadily during Q2, despite being higher YoY, as volumes to Europe decreased. During the quarter, exports to Brazil disappeared, which contributed 162kt during Q1, while the U.S. total exports increased 18.8% QoQ.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Bulls and Bears Do Battle in Aeropostale (ARO); Turnaround Intact?
- UPDATE: Chile regulators stopped build, imposed sanctions on Barrick Gold (ABX)
- Janney Capital Trims Numbers on Buckle (BKE), Margins Peaking
Create E-mail Alert Related Categories
Analyst Comments, Economic Data, Trader TalkRelated Entities
Nomura
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
