US coking coal mines lower output as demand falls

摘要

US coking coal mines continue to lower output and idle after global demand fell, and trade tariffs with China and Turkey hurt US coal exports. Coronado Global Resources’ Buchanan mine, the lowest-cost coking coal mine in the US and among the lowest-cost underground mines globally, is extending a year-end miners’ holiday to align output with demand, a source close to the matter said Tuesday. Buchanan as the largest US coking coal mine producing around 5 million st/year of coal prized by steel and foundry buyers for low ash and sulfur, has been hit hard by China’s 25% import tariff on US coals. The mine had operated at slightly higher rates than in 2018, annualizing at 5.25 million st, based on US government mine data for the January-September period.