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Fly News Breaks for September 28, 2018
BTU
Sep 28, 2018 | 10:35 EDT
As previously reported, Seaport downgraded Peabody Energy to Neutral from Buy. Analyst Mark Levin said the fire at Peabody's North Goonyella mine creates uncertainty around the future of this very important met coal asset as it accounts for approximately 25% of the company's total met coal shipments. While the fire is clearly a negative for Peabody, Levin believes it is good for the overall met market, which is very tight at the moment.
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