Demand for coking coal FALLS
Coking coal exports from the U.S. in July of this year decreased, compared with June 1 million tonnes to 5.1 million tonnes While this level above the same period last year (July 2011) to 3 million tons, though , the lowest level of exports in February this year.
External supplies of coking coal falling on the background of weakening global demand for raw materials in the global steel industry. In the 3rd quarter, a decline of imports, even from China and India, whose economies are also now shows a slowdown in growth.
For the 1st quarter. 2012 from the U.S. to Asia delivered almost 5 million short tons in Europe - 9.1 million in South America - 2.1 million in North America - 850 thousand in Africa - 454 thousand short metuglya tons.
Other reasons for the decline is the increase in export supplies from competitors - especially in Australia, Indonesia and Mongolia.
Recall that in 2011 the United States took to the record level of coal exports in the last 20 years - 107 million tons worth $ 16 billion with exports metuglya rose to 52 million tons
In the U.S. coal industry continues to be under pressure from record low prices for natural gas, particularly shale, causing electricity to minimize the procurement of coal.
As for metallurgical coal, up to the last moment of exports remains a major saving for the coal industry in the country, as the production capability of these products significantly exceed the requirements of the national industry.
Because of the decline in domestic and foreign demand real power of the American coking coal in the current year will be reduced by at least 10 million tons in particular, to reduce the level of production already announced by companies such as Consol Energy, Walter Energy, Arch Coal and Alpha Natural Resources.
According to Alpha Resources, in the 2nd quarter of 2012 the average price of the coking coal fell to near $ 128 / t, compared to $ 176 / t in Q2 2011 to the present, the spot price of coking coal at $ 159 / t, up 30% below the level at the beginning of June.
At the 4 th quarter of 2012 contract prices for Australian coal to Asian steelmakers could reach $ 160-170 / t FOB Australia.
