Arch Resources up after posting profit on strong coking coal prices

Arch Resources

26/04/2022 18:54

** Shares of coal company Arch Resources  ARCH.N  jump 20%
at $157.59
    ** Co posts Q1 profit vs year-ago loss
    ** Co says it capitalized on historically strong coking coal
pricing
    ** ARCH expects global supply constraints as significant
driver in buoyant coking coal markets
    ** Says significant uncertainty continues surrounding
Russian metallurgical coal exports, which constitute roughly 15%
percent of the seaborne market
    ** "Even after a sustained period of high pricing, global
coking coal supply continues to lag due to a combination of
operational and logistical challenges along with years of
under-investment" - Arch Resources  
    ** ARCH up 71% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))