Peabody result

Looks like the same is happening now as in iron ore and oil - oversupply is forcing high-cost producers out.
http://seekingalpha.com/article/285...089fd119d619f9a7f5e282fe3f8d2a1&uprof=46&dr=1
[..]"The recent sell-off in the commodities sector has resulted in significant declines in copper, iron ore and oil due to concerns over global economic growth and supply. The mining and energy sector downturn has further impacted global coal fundamentals that have been weakened by strong seaborne supplies and slowing import demand."
[..]"In 2015, we forecast that seaborne metallurgical coal demand growth will outpace supply increases for the first time since 2011. This is based on a moderate rise in global steel production along with Australian metallurgical coal export growth that will be offset by supply reductions from the U.S. and Canada."
[..]"
Regarding global metallurgical coal supply, we expect some 15 million tons of already announced cuts will be realized in the first half of the year, with additional reductions likely based on the current pricing. A sizable percentage of global metallurgical coal is uncompetitive at current prices. And U.S. production is likely to be disproportionally impacted leading to at least 10 million ton decline in the U.S. metallurgical coal exports this year.
It’s clear that investments in metallurgical coal projects have all been dried up in the past two years and new projects can take years to bring online. Yet this is a depleting resource and we expect that the sharp pullback in investments, declining production and increased coal demand will result in supply shortfalls over time."

The reason for US production being "disproportionately impacted" isn't stated, but it would surely be Obama's insane war on coal. I hope that Congress can stop the insanity, but if they can't then SMR's coal is likely to get to market a bit earlier and at a better price. India demand in particular is likely to rise strongly, and SMR will surely be very competitive. We'll still have to wait very patiently for a while though,while the situation unfolds.