RE: RE: RE: Oversold!Please note that the shortfall from Walter and Alpha are due to the difficulties surrounding production of met coal, not demand based. It is a scarce commodity that is difficult to mine - all past chatter regarding not meeting production schedules, is missed placed, met coal is difficult to mine, and resources are limitied.
I import steel from Asia and deal with both Chinese and Japanese mills. Specific - discussing cost with JFE for contracts we are going to supply steel in NAFTA for 2012- top management feel that high prices for met coal are here for 3-5 years, and they are struggling to make money with high input cost. Meeting to president of BAO America on Friday. Will keep you posted regarding Chinese domestic steel demand.