Weak chinese demand drives met coal equities to underperform market

摘要

A mix of Chinese liquidity fears and a falling appetite for metallurgical coal amongst the country's steelmakers combined to drive down US coal stocks by as much as 10% for the week ending May 21. Chinese trade data primarily affected metallurgical coal-related companies. According to a note from FBR Capital Markets, “met coal-levered names, which, earlier, were star performers, were hit the worst, given concerns about steel demand.”