Coal production in the United States was up 2.8 percent for the week ending November 1st 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 more than a half million tons to 18.9 million tons from 18.4 million tons for the same week in 2013. Production for the previous 52 weeks, however, remains down, off by 0.3 percent or almost 2.5 million tons, compared to the same period last year, 983 million tons.
West Virginia coal production fell for the 52 weeks ending November 1st compared to the same period last year – at 95.4 million tons versus 96.3 million tons in 2013. Coal production in northern West Virginia for the same period was up significantly from 2013 at 39 million tons, up 3.3 million tons from the same period in 2013. Meanwhile, declines in coal production in southern West Virginia offset those gains. Coal production in the southern West Virginia coalfields was off for the 52 weeks by approximately 3.9 million tons from 2013, to just 56.4 million tons for in 2014 versus 60.5 million in 2013.
Exports of metallurgical coal were down 2.3 percent as reported for the month of September from the same month in 2013 – standing at 5.3 million tons versus 5.42 million tons in 2013. Meanwhile, exports of steam coal were off 37.3 percent for the month of September as compared to the same month in 2013 – at 2.5 million tons, off from 4.0 million tons in September 2013.
Electric output was up by 0.5 percent for the week ending November 1st compared to the same week in 2013. The greatest increase in electric demand was seen in the Rocky Mountains, with a 6.0 percent increase.
Steel production was off 0.9 percent for the week from the same period year last year. Steel production is considered a leading economic indicator, which signals a decrease in demand for construction and durable goods. This marks the sixth straight week of declines in steel production.
Central Appalachian coal remained steady in price on the spot market for to $56.30/ton. Northern Appalachian coal also held steady at $66.55/ton. Natural gas prices on the Henry Hub ticked downward to approximately $3.50/mmbtu. This price remains well below its $8 per million btu peak of January and February.
Utilities did not update their stockpile data for this week.