Russian coal exports in March were steady year on year at 15.45 million mt, which was 10% higher month on month, energy ministry data showed Thursday.

That meant year-to-date exports totaled 44 million mt, down 1% year on year.

For both exports and production, the volume of thermal coal was not disclosed, nor were export destinations.

The S&P Global Platts FOB Russia Baltic 6,000 kcal/kg NAR, 90-day price averaged $61.80/mt in March, down $5.96/mt month on month. The Platts FOB Russia Pacific 6,300 kcal/kg GAR, 90-day price averaged $87.40/mt in March, down $6.85/mt.

Reduced exports prices in seaborne markets could have been a reason for the lack of year-on-year growth in exports from Russia to key Atlantic and Pacific markets.

“If Pacific Basin import demand slows, as we expect, growth in Russian export supply will push more global export supply into the Atlantic,” S&P Global Platts Analytics said.

Production in Russia in March totaled 36.8 million mt, a rise of 5.4% month on month and up 1% year on year.

The year-to-date volume for production stood at 108 million mt, up 2.6%.

“There are no signs that Russian coal production growth is slowing, which will likely keep pushing excess tonnage into the export market, as has been the case over the last year,” Platts Analytics said.

— Piers De Wilde, piers.de.wilde@spglobal.com

— Edited by Dan Lalor, daniel.lalor@spglobal.com

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