US coal exports drop 7% YOY in Q4’20; China emerges among top importers
U.S. coal shipments to some of the country’s top importers increased significantly in the fourth quarter of 2020, with China recording a triple-digit uptick amid its escalating trade dispute with Australia.
Total U.S. coal exports during the three-month period fell 7.3% year over year to 17.4 million tonnes from 18.8 Mt, according to an analysis by S&P Global Market Intelligence. Compared to the previous quarter, the U.S. shipped 25.1% more of the commodity from October through December 2020.
Despite the year-on-year slowdown, the quarterly exports figure “slightly” exceeded Moody’s projection for the period, reflecting some recovery in coal pricing in the second half of 2020, Moody’s Investors Service analyst Benjamin Nelson told Market Intelligence.