- Walter Energy (WLT +2.6%) has outpaced other coal stocks so far this week, perhaps given a boost by news that China is tackling the problem of steel oversupply in the country.
- WLT sells both thermal coal and met coal, but it's focus is more on met coal, a key ingredient in making steel; Briefing.com says this is why the China news would be positive for WLT, which is known as the pure met coal play.
- WLT's move also may be aided by some short covering, given that 40.5% of the float is short; other coal stocks with a high short interest include JRCC at 22.5% of float, ANR 20.1%, ACI 18.6%.
Walter Energy moves higher as China tackles steel oversupply
Aug 6 2013, 11:08 ET