James River Coal and Patriot Coal Shares Rally as Metallurgical Coal Demand Speculated to Rise James River Coal and Patriot Coal
16.10.2012 | Marketwire
Five Star Equities Provides Stock Research on James River Coal and Patriot CoalNEW YORK, NY -- (Marketwire) -- 10/16/12 -- Coal stocks surged last Friday on speculation that steel demand was on the rise. Rising rebar prices in China have boosted prices for iron ore and analysts have speculated that metallurgical coal, used to make steel, may also soon be on the rise. Five Star Equities examines the outlook for companies in the Coal Industry and provides equity research on James River Coal Company (NASDAQ: JRCC) and Patriot Coal Corporation (PINKSHEETS: PCXCQ).
Access to the full company reports can be found at:
www.FiveStarEquities.com/JRCC
www.FiveStarEquities.com/PCXCQ
Coal stocks have benefitted from the current rally in natural gas prices, which gained another 3 percent Thursday, as high prices may see some utilities switch back to coal. Dahlman Rose & Co on Thursday predicted that demand for metallurgical from steel manufacturers in China may be on the rise. The rise in Chinese rebar prices have led to a widening of implied spot steel margins, and have boosted iron ore prices, which have gained approximately 36 from their 2012 lows. According to Dahlman analyst Daniel W. Scott Chinese spot steel margins have jumped more than 30 percent since late July, and he speculated that met coal market could see a move similar to iron ore.
Five Star Equities releases regular market updates on the Coal Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
James River Coal Company is one of the leading coal producers in Central Appalachia and the Illinois Basin. The company sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally. Shares of the company have soared over 30 percent in the last week.
Patriot ships to domestic and international electricity generators, industrial users and metallurgical coal customers, and controls approximately 1.9 billion tons of proven and probable coal reserves. The company in September announced reductions of approximately 85,000 tons of metallurgical coal production per month.
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