Credit Suisse isn't on board with recent talk about coal hitting a bottom (I, II), as the firm...

|By:, SA News Editor

Credit Suisse isn't on board with recent talk about coal hitting a bottom (I, II), as the firm cuts its 2012 met coal forecast by ~3% (2013 unchanged), its seaborne thermal coal price by ~10% in both 2012 and 2013, and its U.S. thermal coal price by an average of 11% for 2013. Coal shares took a drubbing today: ANR -2.6%, BTU -3.3%, ACI -6%, CLD -3.9%.