Source: Thinkstock
Compared with major coal producers like Peabody Energy Corp. (NYSE: BTU), Arch Coal Inc. (NYSE: ACI), and CONSOL Energy Corp. (NYSE: CNX), Teck’s shipments represent a relatively small portion of North American coal shipments. Peabody, for example, expects U.S. shipments to total 188 to 192 million tons this year and Arch Coal will ship well over 100 million tons.
Demand for coal has picked up slightly in international markets, and rising natural gas prices in the U.S. could boost domestic demand as well.
Teck’s shares are up 0.4% at $36.14 in a 52-week range of $26.12 to $43.99.
U.S. coals stocks are down this morning following a federal appeals court ruling yesterday denying an appeal on the recent tightening of carbon emissions rules by the U.S. Environmental Protection Agency.
Paul Ausick
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