CONSOL cautiously optimistic about market recovery

摘要

CONSOL Energy is cautiously optimistic that the thermal coal market is close to reaching the end of it's long running "down" cycle. However, the company believes coking coal exporters could continue to see a soft market for awhile. During its second quarter earnings call, CONSOL's President and CEO, J. Brett Harvey, said met coal producers continue to outpace steel demand. "As long as buyers are not buying then prices will continue to drop," Harvey said. "We do not see any substantial turnarounds in the met coal market for the next three to six months." CONSOL expects to export 11 to 12 million tonnes of coal in 2012, including 3.5 million tonnes of low-vol met coal.