Peabody Energy Encouraged by Met Coal Outlook

Peabody Energy (NYSE:BTU) has stated that it is “encouraged” by the outlook for the metallurgical and coking coal market, according to Blooomberg.

As quoted in the publication:

The company estimates 25 million to 30 million tons of worldwide output cuts have been announced this year, almost 10 percent of global seaborne supply, St. Louis-based Peabody said today in a statement. It estimated in July that there had been almost 20 million tons of cuts.

Click here to read the full article.