Global steel producers are shifting away from coal as a feedstock
Alpha Metallurgical Resources Inc. (Alpha) derives more than 85.0% of its total revenue from metallurgical coal, a key feedstock in steel production. A growing number of global steel foundries have moved to integrate more electric arc furnaces into their steelmaking processes given the fact that this technology is much more efficient and sustainable compared with the traditional method of using blast furnaces. Since electric arc furnaces are not dependent on coal, this represents a looming threat to Alpha and has consequentially led the company to export a large portion of its production to countries that will accept the resource.
Competition|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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