US thermal coal exports totaled more than 1.6 million st in July, down 11.5% from June and down 36.9% from the year-ago month, according to US Census data released Thursday.
The drop is largely due to depressed seaborne pricing caused by an lack of electricity demand and a global oversupply of coal that has dragged down the market for more than two years.
Metallurgical coal exports from the US in July totaled more than 4.8 million st, down 17.2% from the prior month and down 8.8% from the year-ago month, according to the Census data.
Met prices have also been affected by low steel demand and a global oversupply of met coal.
For the month, combined exports totaled 6.5 million st, down 18% from the year-ago month. Through July, US coal exports total 53.8 million st, down 12.8% compared with the same period last year.
The US Energy Information Administration projects 2014 coal exports to total 99 million st. US coal exports hit a record 126 million st in 2012.
