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(AMM) Metallurgical coal miners share bullish outlook for '10

January 29, 2010 - 21:34 GMT Location: PITTSBURGH

KEYWORDS: metallurgical coal , Arch Coal , Consol Energy

Metallurgical coal miners are bullish in their outlooks, citing improved pricing, shipments and export opportunities that are expected to continue throughout the year.

St. Louis-based Arch Coal Inc. said that renewed strength from global steelmakers is now pulling high-quality steam coal into met coal markets. It also is encouraged by shifts in coal supply patterns resulting from China becoming a net importer of coal. "This shift in global coal supply patterns should create demand pull for U.S. metallurgical and steam coal into the Atlantic and Pacific markets in 2010," the company said, and it expects U.S. exports to increase by at least 10 million tons this year.

Arch reported fourth-quarter net income of $1.5 million, off 97.5 percent from $62.4 million in the same period a year earlier despite an...

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