Shares of US coal companies surging in early '10, but Simmons & Co not yet convinced full blown recovery starting for thermal coal used by electric generators. "We believe that fundamentals have improved for steam coal over the past month, but one month of cold weather doesn't change the thermal coal situation entirely," firm says.
Shares of US coal companies surging in early '10, but Simmons & Co not yet convinced full blown recovery starting for thermal coal used by electric generators. "We believe that fundamentals have improved for steam coal over the past month, but one month of cold weather doesn't change the thermal coal situation entirely," firm says. Positives for sector include cold weather, inventory drawdowns, contract signing, but stockpiles still remain above average, and there's plenty of winter left. "Which way the scales tip when the ice melts has yet to be determined."

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