Walter Energy: Bullish on Met Coal But It Might Not Matter
After weak met coal guidance from Alpha Natural Resources (NYSE: ANR ) and Arch Coal (NYSE: ACI ) , Walter Energy (NYSE: WLT ) surprised the market with bullish commentary on the coal needed for steel production.
Walter Energy is the largest pure-play met coal miner trading on the domestic stock exchanges. After closing another thermal coal mine, the company expects to only produce 300,000 tons of thermal coal this year, leaving the sole thrust on met coal. Other domestic coal miners produce met coal along with sizable amounts of thermal coal used for electricity production.
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