Arch, Peabody Jump On Growing Chinese Steel Demand
Arch Coal (ACI), Peabody Energy (BTU) and Alpha Natural Resources (ANR) were up in afternoon trading Thursday on the hopes demand from Chinese steel makers may rise. Arch Coal shares surged 11% to 7.64, Peabody shares jumped 8% to 25.93 and Alpha Natural shares climbed 12% to 8.20. Growth in China has been cooling during the last quarter and prices for coal have fallen on weak demand. But Dahlman analyst Daniel Scott sees Chinese spot steel
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