Lower met coal prices, weak steel mart keep Alpha in the red

Aug 05, 2013 | 11:15 AM | Catherine Ngai

Tags  Alpha Natural Resources, metallurgical coal, coal prices, Kevin Crutchfield, earnings report, Catherine Ngai

NEW YORK — Alpha Natural Resources Inc. remained in the red in the second quarter due to falling global metallurgical coal prices and a weak steel market.

The company posted a net loss of nearly $185.7 million for the three months ended June 30 vs. a $110.8-million loss in the first quarter and a $2.23-billion loss a year ago. Sales of 21.6 million tons of coal were down 5.7 percent from 22.9 million tons in the previous quarter and 19.4 percent from 26.8 million tons in the same....

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