According to Reuters, Goldman Sachs analyst Brian Singer said expected Chinese economic growth could potentially improve global metallurgical coal supply and balances, reducing the downside pricing risk for next year.
American coal producers surged on the news, with Massey Energy shares climbing 21.89% or $US3.82 on Monday to close at $21.89, while Foundation Coal Holdings shares jumped 15% or $2.70 to $20.67.
Peabody Energy shares gained 11% or $3.20 to $32.18.