U.S. Coal Exports Surge, but Thank China, not Trump
LAUNCESTON, Australia (Reuters) - U.S. coal miners are almost certainly cheering the sharp rise in exports of their product, but their good fortune is mainly the result of Chinese domestic policies that have driven up global prices for the polluting fuel.
According to MANA, While U.S. President Donald Trump and his administration would no doubt like to claim credit for reviving the coal industry, it's likely there has been virtually no structural change that will ensure a sustained boost for U.S. coal exports.
U.S. coal shipments were 51.9 million tonnes in the first seven months of the year, up 21.3 percent on the same period last year, according to the data.
Shipments to the region were 17.94 million tonnes in the first seven months of this year, which would equate to about 30.8 million tonnes for the whole of 2017 if the pace is maintained.
U.S. exports to Asia were 21.14 million tonnes in 2016 and 20.8 million tonnes in 2015, according to the vessel-tracking data.
For the first seven months of 2017, U.S. exports to China stood at 4.03 million tonnes, a figure already exceeding the full year total of 2.82 million for 2016 and 2.97 million for 2015.
While China is the world's biggest importer of coal, the U.S. supplies more to India, which ranks second.
For the January-July period, U.S. exports to India were 6.39 million tonnes, on track to exceed the total of 8.67 million for 2016 and 7.6 million for 2015.