X - Coal mining shares surge as Europe's Russia coal ban takes effect

Peabody Energy (NYSE:BTU) +14%, rallying to a three-year high as European coal prices jump to their best levels in a month, with the European Union's ban on Russian imports now starting to take effect. Also: (METC) +11.8%, (AMR) +10.6%, (CEIX) +9.8%, (ARCH) +6.7%, (ARLP) +5%, (HCC) +3.9%. Steelmakers, which use metallurgical coal as an input, also are moving higher: (SXC) +5%, (TMST) +4.3%, (ZEUS) +4%, (NUE) +3.1%, (X) +2.9%, (CLF) +2%. Eurocoal expects 50M metric tons of supply will be secured from the U.S., Australia, Indonesia, Columbia and South Africa to replace Russian coal, S&P Global Platts has reported. Seeking Alpha contributor Steven Cress includes Alpha Metallurgical Resources in his top five commodity stocks to buy now.

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Coal mining shares surge as Europe's Russia coal ban takes effect