Peabody Energy Corp (BTU) stock surged 5.02% in the intraday trading session on Tuesday, following reports that U.S. coal exports to India are expected to rise due to China imposing tariffs on imports of U.S. coal.
China's Finance Ministry announced last week that it would impose levies of 15% on imports of U.S. coal. This move is likely to divert U.S. coal shipments to India, the world's second-largest coal importer behind China.
Peabody Energy, the largest U.S. coal miner, said in a recent analyst call that more U.S. coal could go to India and more Australian coal to China as a result of the tariffs. The company is well-positioned to benefit from this shift in trade flows, potentially boosting its exports to India.
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