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(AMM) Patriot sees met coal demand picking up

June 16, 2009 - 15:53 GMT Location: PITTSBURGH

Patriot Coal Corp. is seeing an uptick in metallurgical coal demand, noting that it expects to sell 2.5 million tons of metallurgical coal in the second half of the year at a price of $105 per ton.

St. Louis-based Patriot added that its production has been substantially committed as of June 15.

Coal producers continue to deal with customer requests to defer shipments, especially customers in the steel industry, Richard M. Whiting, Patriot's chief executive officer, said.

To that end, the mining company has reached an agreement with a customer that previously requested deferral of a portion...

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