An indication of demand destruction, US steam coal exports fell 15.2% on the year in June as the CIF ARA monthly average price more than tripled to $371.02/mt, according to US Census Bureau data released Aug. 4. Compared with May, the CIF ARA price rose 13.2% while US thermal coal exports fell 1.3% to 2.8 million mt. The decline in US June thermal coal exports was due to a steep reduction in subbituminous coal shipments, which fell 63.8% on the month and 74.1% on the year to 132,471 mt. Year-to-date subbituminous coal exports were 7.9% lower than the 2021 period. Bituminous coal exports rose 8% on the month to 2.6 million mt, Census data showed. Compared with June 2021, bituminous exports were 4.2% lower. Year to date, bituminous exports were at a 5.4% deficit to 2021. The lion’s share of US thermal coal shipments were bound for India in […]