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Kallanish Kallanish

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February, 18th 2020

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FEB 06
16:06

Weak coking coal prices bite into Arch's profits

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A challenging metallurgical coal market in 2019 drove US thermal and metallurgical coal producer Arch Coal’s profits down on-year, Kallanish reports. 

Arch Coal earned $233.8 million in 2019 on sales of $2.3 billion, down from earnings of $312.6m on sales of $2.4 billion in 2018. 

“After a significant pullback in the back half of 2019, metallurgical markets have rebounded modestly since the start of the year, although ongoing concerns about the coronavirus and its potential impact on the global economy remain significant, near-term risks,” the company says in its year-end earnings review and outlook. “At year-end, Arch had committed to supply 1.8m short tons of its metallurgical products to North American customers in 2020, at a fixed price of approximately $107/st.”