US thermal coal exports jumped to a 10-month high in August, with increased interest from Morocco as well as parts of northeast Asia and Latin America offsetting persistent declines elsewhere.

A total of 4.83mn short tons (4.39mn metric tonnes) of US steam coal left US ports during the month, preliminary figures from the US Commerce Department show. That was the most since October 2023 and up from 3.99mn st in August 2023.

August was the second straight month that US thermal coal exports topped year-earlier levels for the first time since February. In the first eight months of 2024, volumes were up to 33.8mn st from 31.2mn st a year earlier.

One of the greatest increases in US thermal exports in August was shipments to China, which rose to a 12-year high of 651,102st from 519st a year earlier. August also was the 10th consecutive month that US steam coal exports to China rose from a year prior.

US steam coal exports to Morocco also jumped on the year prior, to 561,911st from 360,554st in August 2023, as buyers there looked to restock supply and diversify from Russian coal sources. Shipments to the country were the highest since January.

Thermal coal exports to Japan, Dominican Republic, Brazil, Pakistan and Singapore also rose, offsetting declines in shipments to India, South Korea and much of Europe.

Exports to India lagged year-earlier levels for the first time since April and came as petroleum coke expanded its cost advantage over coal. The Argus cfr India 6.5pc sulfur price was $109.50/t on 31 July and a 22pc discount on a heat-adjusted basis to NAR 5,500 kcal/kg coal delivered to India.

Overall US steam coal exports to Asia increased to 3.03mn st in August from 2.3mn st a year earlier. Bituminous thermal coal shipments to the continent rose to 2.5mn st in August from 1.81mn st a year earlier, and sub-bituminous exports increased to 525,622st from 510,474st.

Japan, South Korea and Singapore were the only countries listed as destinations for US sub-bituminous coal.

US thermal coal exports to Africa also increased because of the gain in shipments to Morocco. At the same time, exports to Canada and Central and South America also were higher in August than they had been a year earlier, leaving Europe as the only continent to which US steam coal shipments were declining.

The rise in US steam coal exports was offset by a 17pc decrease in metallurgical coal volumes that brought overall US coal export down to 9.09mn st in August from 9.12mn st a year earlier.

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