Reuters reported that Patriot Coal Corp which is boosting metallurgical coal production sees higher pricing for the steel making coal amid strong demand from countries such as Brazil and India.

St Louis Missouri based Patriot said it sees improved production in the fourth quarter and lower costs per ton. The company expects fourth quarter cost per ton in the eastern US region of Appalachia to be USD 72 to USD 75 lower than the USD 79.10 in the third quarter.

Patriot said in the statement that "Looking forward, we are expecting improved production in the fourth quarter. There are no scheduled longwall moves, and the increased production should lead to lower cost per ton."

Patriot expects fourth quarter sales volume to be 8 million tonnes to 8.3 million tonnes including met coal sales of about 2 million tonnes.

(Sourced from Reuters)