Feb 5 Arch Coal Inc, the second-largest
coal miner in the United States by production, reported a
quarterly loss as prices fell for both steel-making and
The company reported a net loss of $295.4 million, or $1.39
per share, for the fourth quarter, compared with a profit of
$70.9 million, or 33 cents per share, a year earlier.
Revenue fell about 19 percent to $968.2 million.
Demand for thermal coal has plunged in the United States as
electric utilities switch to cheaper natural gas. Exports have
also shrunk due to weak demand for steel-making coal from China
Prices for Newcastle thermal coal fell 16
percent last year, while global prices for steel-making coal are
down 50 percent from their 2011 highs.