SteelOrbis

Arch Coal expects to sell over 6.5 million mt of met coal in 2017

Thursday, 09 February 2017 23:07:34 (GMT+3)   -   San Diego
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Arch Coal, a US miner headquartered in St. Louis with mining complexes in Wyoming, Colorado, Illinois, West Virginia, Kentucky and Virginia, expects to sell between 7.2-7.8 million net tons (6.5-7.1 million metric tons) of metallurgical coal in 2017.
 
Arch Coal stated in its quarterly financial report that 3.3 million nt (3 million mt) of coking coal is committed and priced for 2017, at an average of $89.70/nt ($98.88/mt). Arch sold 700,000 st of PCI (pulverized coal injection, which improves blast furnace performance) ahead at an average price of $64.82/nt ($71.45/mt), indicating a 72.3 percent ratio to its coking coal pricing. As of September 30, 2016, the company had 2.1 million nt (1.9 million mt) of met coal sales in 2017 committed at $66.78/nt ($73.61/mt). The company believes that the tight supply conditions encountered in the latter part of 2016 will be addressed by additional new supplies in the market in 2017 which will in turn move prices back to relative equilibrium.
 
In the fourth quarter 2016, Arch Coal sold 1.7 million nt (1.5 million mt) of coking coal at an average realized price of $75.36/nt ($83.07/mt) and 200,00 nt of PCI at $54.78/nt ($60.38/mt).


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