US coal exports have remained subdued during the second quarter of CY19. Data provided by customs indicate that the country had exported 31.65 MnT coal in Apr-Jun’19 period, down 17% Y-o-Y from 38.36 MnT recorded in the same period last year.
Export volumes were also 5% lower on the quarter from 33.17 MnT noted in the first quarter period (Jan-Mar’19) of CY19.
The decline can be pegged to oversupply and a lack of demand in Europe due to mild weather, also contributed by a hefty fall in seaborne thermal coal prices.
With the persistent drop in US coal prices, market participants are expecting a pull back in exports, which had witnessed a strong growth cycle in the past few years.
On the monthly basis, exports in Jun’19 attained a 4-month low total of 9.92 MnT, which had also fallen 20% Y-o-Y from 12.4 MnT recorded in Jun’18.
Over the course of the first 6 months in CY19 (Jan-Jun’19), US coal exports have reached 64.82 MnT, down 12% Y-o-Y from 73.6 MnT in the corresponding period of CY18.
Grade-wise Coal Exports:
US coking coal exports rose 9% Q-o-Q to 13.74 MnT in Q2 CY19, compared with 12.58 MnT in Q1 CY19.
Pet coke remained the second-largest traded coal commodity; however, export volume had suffered a hefty decline of 16% on the quarter during Q2 CY19 period.
Monthly exports of US non-coking coal attained its lowest mark for the year, noted at 2.18 MnT in Jun’19. Exports in the second quarter totaled 8.22 MnT, down 8% Q-o-Q from 8.9 MnT in Q1 CY19.
| Grades | Q2 CY19 | Q1 CY19 | % Change |
| Coking Coal | 13.74 | 12.58 | 9% |
| Pet Coke | 8.49 | 10.15 | -16% |
| Non Coking Coal | 8.22 | 8.9 | -8% |
| Met Coke | 0.2 | 0.17 | 18% |
| Anthracite | 0.06 | 0.06 | 0% |
| Others | 0.95 | 1.34 | -29% |
| Grand Total | 31.65 | 33.17 | -5% |
Source: US customs
Quantity in MnT
Major Coal Importers:
India remained the largest coal importer from the US, however, the buying activity was lowered due to the onslaught of monsoon. Indian coal imports decreased 30% Q-o-Q to 4.37 MnT in Q2 CY19, which was also marked 15% lower on the year from 5.12 MnT in Q2 CY18.
Japanese coal imports increased 24% Q-o-Q to 4.02 MnT in Q2 CY19, which was also marked 30% higher on the year from 3.09 MnT in Q2 CY18.
Netherlands was the third-largest coal receiver of US coal, with imports of 2.9 MnT in Q2 CY19. Import volumes had fell 6% Q-o-Q from 3.08 MnT in Q1 CY19, but was 5% higher than the levels attained in year-ago quarter.
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