Analyst upgrades Arch, Patriot on overseas demand

The rapidly rebounding economies of China and India will buoy demand for major producers such as Arch Coal and Patriot Coal, an analyst said Monday, offsetting some of the weak sales linked to falling power usage.

Coal companies sell both metallurgical and thermal coal, the latter used by utilities to generate power. Thermal coal sales have tumbled in the West due to the recession.

Yet metallurgical coal, used to make steel, is selling briskly in economies that have rebounded the fastest, namely Asia.

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- Posted: 2010-04-12 10:24:07

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