All the talk about coal pricesdropping are misleading.
First, NAG's W. Virginia coal is bituminous or sub bituminous which is used to produce electricity. and is in high demand. The coal that is used in the production of steel is the type that demand has weakened with the economy.
Second, Nag's coal holdings in W. Virginia is classed in the Central Appalachia column and as you see is holding quite firm. Very economic at these levels.
Try and keep a full knowledge of what is going on.
Average Weekly Coal Commodity Spot Prices
(Dollars per Short Ton) |
Week
Ended | Central
Appalachia
12,500 Btu,
1.2 SO2 | Northern
Appalachia
13,000 Btu,
<3.0 SO2 | Illinois Basin
11,800 Btu,
5.0 SO2 | Powder
River Basin
8,800 Btu,
0.8 SO2 | Uinta Basin
11,700 Btu,
0.8 SO2 |
| 2/27/09 | $68.20 | $66.00 | $55.00 | $13.00 | $73.00 |
| 3/6/09 | $68.20 | $58.00 | $55.00 | $13.00 | $73.00 |
| 3/13/09 | $68.20 | $58.00 | $55.00 | $13.00 | $73.00 |
| 3/20/09 | $68.20 | $58.00 | $48.00 | $13.00 | $73.00 |
| 3/27/09 | $68.95 | $56.00 | $48.00 | $13.00 | $73.00 |
| 04/03/09 | $68.95 | $56.00 | $48.00 | $13.00 | $73.00 |
| 04/10/09 | $68.95 | $52.00 | $48.00 | $8.75 | $42.00 |
| 04/17/09 | $68.95 | $52.00 | $48.00 | $8.75 | $42.00 |