Coal production in the United States was up 7 percent for the week ending October 11th from the same week last year, according to weekly figures released by the US Energy Information Agency (EIA). Production for the week was up slightly less than two million tons to 19.2 million tons, from 17.9 million tons for the same week in 2013. Production for the previous 52 weeks, however, remains down, off by 0.8 percent or slightly less than 8 million tons, compared to the same period last year, at 981.2 million tons.
West Virginia coal production fell for the 52 weeks ending October 11th by 2.5 percent compared to the same period last year - 111.6 million tons versus 114.5 million tons in 2013. Coal production in northern West Virginia for the same period was up significantly from 2013-- by 7.8 percent - 45.7 million tons, up 3.45 million tons from the same period in 2013. Meanwhile coal production in the southern West Virginia coalfields was off for the 52 weeks by approximately 6.3 million tons from 2013, to 65.9 million tons for in 2014 versus 72.1 million in 2013 - or 8.6 percent.
Through August, imports of coal were up year over year by 58 percent, to approximately 1.1 million tons, while exports of steam coal dropped by 45 percent from 2013 – off approximately 2.1 million tons. Exports of metallurgical coal were also off – down by 2.9 percent from 2013.
Electric output increased by 2.8 percent for the week ending October 11th compared to the same week in 2013. The greatest increase in electric demand was seen in the Rocky Mountain and South Central regions, with 14.9 percent and 13 percent increases respectively.
Steel production remained down – off 1.5 percent for the week from the same period last year. Steel production is considered a leading economic indicator, which signals a decrease in demand for construction and durable goods. This marks the third straight week of decline in steel production.
Central Appalachian coal remained steady in price on the spot market at $56.30/ton. Meanwhile Northern Appalachian coal dropped by $1 per ton to $65.55/ton, up from $66.55/ton last week. Natural gas prices on the Henry Hub dropped slightly to approximately $3.91/mmbtu as much of the country began to feel the first days of cool fall weather. This price remains well below its $8/mmbtu peak of January and February.
Utilities did not update their stockpile data for this week.