US coking coal exports fell to a seven-month low in August, largely because of lower shipments to China, while shipments to the rest of the world were higher than a year earlier but slipped from the previous month on weakening sentiment in steel markets and declining steel output.
Exports fell by 13pc on an annual basis and by 8.5pc on a monthly basis to 3.17mn t in August, as shipments to China were significantly lower than a year earlier as buyers continued to largely hold back from the seaborne market. The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.
US shipments to India declined by 24.9pc month on month at 517,809t but were supported by ongoing delays to Australian deliveries, rising by 60.4pc from a year earlier, while Australian shipments in August fell by 16.7pc to 3.25mn t. US shipments to Japan fell by 18.4pc year on year to 311,701t as component shortages weighed on car production in the country.
US shipments to Brazil fell by 18.7pc on the year and by 53.3pc on the month to 284,151t in August, as well-stocked buyers held back from markets boosted by elevated thermal coal prices.
Shipments to the EU were 36.4pc higher than a year earlier at 1.21mn t, inching up by 1.68pc from the previous month, as buyers continued to build stockpiles with cargoes committed to earlier in the year.
Canadian coking coal exports rose by 18.7pc from a year earlier to 2.54mn t owing to higher shipments to Japan and the EU. Exports to Japan rose by more than threefold to 557,826t in August, while shipments to the EU almost quadrupled to 387,403t. Canada's shipments to China were 6.45pc lower than a year earlier at 682,861t. Argusmedia
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!