Coal miners hit record highs on supply concerns after Ukraine invasion

Warrior Met Coal

02/03/2022 16:33

** Shares of U.S. coal miners scaled new heights, tracking
coal prices in Europe on fears of supply shortages due to the
bloc's reliance on Russian coal
    ** Arch Resources Inc  ARCH.N  jumps as much as 11.1% to an
all-time high of $137.43; Warrior Met Coal Inc  HCC.N  also
scales record high after climbing 7.1% to $35.70
    ** Russia accounted for about 18% of global thermal coal
trade in 2020, according to data from the International Energy
Agency
    ** Benchmark European coal futures  API2  for 2023
 TRAPI2Yc1  hit a record high after rising up 25% to $250/tonne
at 1235 GMT (0735 ET)  urn:newsml:reuters.com:*:nL1N2V5127  urn:newsml:reuters.com:*:nL1N2V512E
    ** Peabody Energy Corp  BTU.N  gains 13.3% to $21.26, its
highest since July 2019; Jefferies raises its PT for BTU in a
broader note on commodities
    ** "Commodity markets were greatly impacted by COVID, but
that could pale in comparison to the impact of the
Russia/Ukraine crisis" - Jefferies  urn:newsml:reuters.com:*:nL8N2V54ZX
    ** Hallador Energy Co  HNRG.O , Ramaco Resources Inc
 METC.O  and CONSOL Energy Inc  CEIX.N  add 6.0%-9.5%

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))