Contura lowers inventory levels, sees optimistic signs moving forward

摘要

When the second quarter of 2020 is reviewed, it may become known as “The Great Destocking,” at least in the coal industry. Too much coal on the ground was a problem for producers as the pandemic became too real at the end of the first quarter. During the second quarter, producers made tough calls, got some control and set the table for the rest of the year. During its second-quarter earnings call, Contura Energy was among the companies that needed to bleed down their inventories and did it to the tune of about a half-million tons. Of that, 350,000 tons were on the metallurgical side.