Patriot bullish on met coal despite bigger 3d-qtr. loss
Oct 21, 2011 | 11:45 AM
| Lisa Gordon
Tags
metallurgical coal,
Patriot Coal,
Lisa Gordon
PITTSBURGH — Although higher selling prices were unable to offset increased operating costs and pushed Patriot Coal Corp. to post a bigger third-quarter loss, the company remains bullish on metallurgical coal.
Recent speculation suggests that weakening demand for steelmaking coal is setting in, but low-volatile and high-volatile met coal supply remains tight, the St. Louis-based miner said, and any disruption in production could serve as a catalyst to drive....
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