"Walter Energy, an Alabama coal miner, announced on July 15 that it is filing for bankruptcy. Senior lenders will see their debt turned into equity, and if the company cannot turn the ship around, it will more or less sell off all of its assets. 'In the face of ongoing depressed conditions in the market for met coal, we must do what is necessary to adapt to the new reality in our industry,' Walter Energy's CEO Walt Scheller said in a press release."
"Goldman said prices will probably drop another 16% by the end of next year and expects Chinese demand to grow at the slowest pace in almost two decades."Goldman on Wednesday lowered its copper price outlook by as much as 44% through 2018."