Category: Updates
US Coal Outlook
August 15, 2023
July’s high summer temperatures and heatwaves in many parts of the country led to increased thermal coal burn.
Thoughts on US Steel & Cleveland Cliffs News
August 14, 2023
The news dropped Sunday night that Cleveland Cliffs (CLF) has offered a cash and stock bid worth $7.3B for US Steel (X).
Corsa Coal Wins Damages from PennDOT
August 14, 2023
After accounting for contingent legal fees, Corsa anticipates receiving net proceeds of $23.3 million from PennDot.
Warrior Debt Tender Offer – Quick Thoughts
August 9, 2023
After the close today, Warrior Met announced a tender offer for its 7.875% senior secure notes due in 2028:
Jittery LNG & Natural Gas Markets
August 9, 2023
European natural gas prices experienced the largest jump since March of the previous year due to concerns over potential supply disruptions.
Alpha vs Warrior (& AMR’s outlook)
August 8, 2023
The market had a positive reaction to Alpha’s earnings, up 8% on the day in sharp contract to Warrior’s earnings reaction, which was down 11%.
Peabody Post-Earnings Thoughts
August 5, 2023
I’m starting to change my outlook on BTU from bad to better.
Warrior Post-Earnings Discussion
August 4, 2023
Things I got wrong… Erroneous items I failed to anticipate… Going forward and the investment thesis.
Warrior Met Earnings on Deck
August 2, 2023
HCC is set to release earnings tomorrow (Aug. 2) after the bell.
Chinese Stimulus Dud?
July 29, 2023
In terms of Chinese economic growth and steel demand, here’s what we know.
Annual Met Contract Pricing Discussion
July 26, 2023
I had lunch with a met producer sales guy yesterday and while discussing the upcoming domestic sales negotiating season, he mentioned that met buyers (North American end-users) seemingly “have all the power.”