
Coal News & Price Data – November 3, 2023 – Weekly Met Market Summary
Chinese premium metallurgical coal prices were steady in early November, driven by soft coke prices and sustained demand from end-users.

Chinese premium metallurgical coal prices were steady in early November, driven by soft coke prices and sustained demand from end-users.

China is facing an oversupply of coal, with robust domestic production and surging imports creating a glut in the market.

Corsa Coal Corp. reported adjusted EBITDA of $6.1 million, total revenue of $51.1 million, and EPS of $0.18 per diluted share.

CONSOL Energy Inc. reported its financial results for the period ending September 30, 2023.

Whitehaven Coal’s acquisition of two coking coal mines from BHP is expected to boost earnings per share by 93% by 2025

Australian metallurgical coal prices have seen a small rally, influenced by factors like supply tightness and market tactics.

ARCH Resources & Peabody Energy reported Q3 earnings this morning. Earnings calls will take place at 10 and 10:30 am.

Teck raised the cost estimate for its Quebrada Blanca 2 copper project due to further construction delays.

North American coal companies are kicking off Q3 earnings season, with Teck reporting this morning, followed by Arch, Peabody and Alliance.

Australian mining company South32 experienced an unexpected 18% decline in first-quarter metallurgical coal production.

The interest in seaborne metallurgical coal in China is waning due to a slowdown in steel production and sustained losses in steelmaking.

In first half of October, coal stocks at power plants in India experienced a rapid depletion, dropping by 12.6% to 20.58 million tonnes.