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US Coal Exports Expected to Rise in 2024

The United States is projected to increase its coal exports to 102.6 million short tonnes in 2024, up by 2.8% from the previous year, according to the Energy Information Administration’s (EIA) latest Short-Term Energy Outlook.

This increase comes after the Port of Baltimore’s full reopening and the Fort McHenry Federal Channel’s return to operation following a March incident where a cargo ship collision caused significant damage.

The export growth includes a decline in metallurgical coal by 2.9% to 49.8 million short tonnes, while steam coal exports are anticipated to rise by 8.9% to 52.8 million short tonnes. Despite the increase in exports, overall US coal supply is expected to decline by 12.4% to 506.1 million short tonnes in 2024, with further reductions forecasted for 2025.

Domestic coal consumption is also expected to decrease by 1.5% this year, with a slight increase in usage by the coke sector. In contrast, US power consumption is predicted to rise by 2.8% to 4.11 trillion kilowatt hours in 2024.

Source: CoalZoom, EIA, Mysteel