Bloomberg citing Mr Ernie Thrasher chief executive officer of Xcoal Energy & Resources LLC as saying that coal exports from the US may rise as a weaker dollar makes the power plant and steelmaking component attractive to foreign buyers.
Mr Thrasher said producers in the US may fetch as much as USD 370 a ton for their highest quality coal, compared with the benchmark price of USD 315 a ton settled this month.
Exports of US coal may reach 98 million tons this year, the Energy Department forecast June 7 up from 81.7 million in 2010 and the highest level since 1992 when the country shipped 102.5 million tons.
Mr Thrasher said coal shipments to foreign customers may be capped at 100 million tons by port capacity.
According to the Energy Department exports of metallurgical coal are expected to jump 17% this year to 65.6 million tons the highest in at least 15 years.
( Source: www.steelguru.com )