Monday, 07 Dec 2009
Argus reported that US coal production for the week of November 28th 2009 continued to be lower than a year ago with total domestic output falling 9.4% on 2009 to 20.1 million tonnes. Meanwhile, production fell 5.4% compared with the prior week on account of the Thanksgiving holiday.
Breaking the figure down by selected regions, Appalachian coal production was down 11.5% from a year ago at 6.3 million tonnes, Interior region production fell 8.1% to 2.5 million tonne while Wyoming production dropped 8.8% to 8.5 million tonnes.
Looking at WoW figures, Appalachian production was down 9.4% and Interior production was off 12.4%. However, Wyoming production rose 3.8%.
Producers said that this week at various investor conferences that they do not expect coal prices to rebound until later 2010 under expectations of rising international demand and natural gas prices.
Mr John Eaves CEO of Arch Coal said that continued supply reductions in Central Appalachia could push demand to other basins, which could support prices alongside increased demand in China and India.
Meanwhile, Mr Peter Socha CEO of James River Coal said that the US thermal market should recover in the back half of 2010 with stockpiles expected to come down due to factors such as weather, industrial activity and gas prices.
Argus reported that US coal production for the week of November 28th 2009 continued to be lower than a year ago with total domestic output falling 9.4% on 2009 to 20.1 million tonnes. Meanwhile, production fell 5.4% compared with the prior week on account of the Thanksgiving holiday.
Breaking the figure down by selected regions, Appalachian coal production was down 11.5% from a year ago at 6.3 million tonnes, Interior region production fell 8.1% to 2.5 million tonne while Wyoming production dropped 8.8% to 8.5 million tonnes.
Looking at WoW figures, Appalachian production was down 9.4% and Interior production was off 12.4%. However, Wyoming production rose 3.8%.
Producers said that this week at various investor conferences that they do not expect coal prices to rebound until later 2010 under expectations of rising international demand and natural gas prices.
Mr John Eaves CEO of Arch Coal said that continued supply reductions in Central Appalachia could push demand to other basins, which could support prices alongside increased demand in China and India.
Meanwhile, Mr Peter Socha CEO of James River Coal said that the US thermal market should recover in the back half of 2010 with stockpiles expected to come down due to factors such as weather, industrial activity and gas prices.
(Sourced from Argusmediagroup.com)
Review: http://steelguru.com/news/index/2009/12/07/MTIzODUx/US_coal_production_down_9pct_on_year.html
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