The US is expected to export a total of 102.6 million short tonnes of coal in 2024, higher by around 2.8% compared with last year, as per the latest Short-Term Energy Outlook issued by the country’s Energy Information Administration (EIA).
This was adjusted up from an estimated 98.7 million short tonnes for this year as revealed in the EIA’s earlier report issued in May, as the Port of Baltimore fully reopened on Monday with the Fort McHenry Federal Channel operational again, Mysteel Global notes. The channel had closed to vessel traffic on 26 March after a cargo ship crashed into one of the bridge’s support columns, causing it to collapse, as per reports.
In terms of coal types, the US’ exports of metallurgical coal are predicted to be 49.8 million short tonnes this year, down by 2.9% y-o-y. Exports of steam coal, however, will rise 8.9% y-o-y to reach 52.8 million short tonnes in 2024, according to the EIA’s new report.
The report also estimates that the US coal supply in 2024 may see a marked 12.4% decline compared with the previous year to touch 506.1 million short tonnes, with the figure for 2025 seen further going down to 500.3 million short tonnes.
This year, the country may consume a total of 420.1 million short tonnes of coal, meaning a 1.5% drop on a yearly basis. Within the total, coal use by its power sector is predicted to dip 1.6% y-o-y to reach 381 million short tonnes, while that by the coke sector may rise 2.5% to 16.2 million short tonnes, according to the report.
Besides, the report predicts that US power consumption in 2024 could rise by 2.8% on the year to reach 4.11 trillion kilowatt hours (kWh). This is slightly higher than a prediction of 4.1 trillion kWh made by the EIA in May.
Note: This article has been written in accordance with an article exchange agreement between MySteel Global and BigMint.