Australia’s 2010 met coal exports rise 18 percent despite Queensland floods

Australia's metallurgical coal exports in 2010 increased by 18 percent to 159 million mt while export earnings for the commodity rose 19 percent to AU$30 billion, both on year-on-year basis, according to a report released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
 
In the last of quarter of 2010, metallurgical coal exports remained largely stable at 40 million mt, increasing by only three percent year on year and staying flat quarter on quarter. 
 
Meanwhile, production of saleable black coal in general decreased by nine percent in the fourth quarter of 2010 to 85 million mt, both compared with the previous quarter and the corresponding quarter in 2009. However, in 2010 as a whole, coal production increased by one percent year on year to 356 million mt.
 
Increases in average contract prices for metallurgical coal during the year were offset by an appreciation of the Australian dollar against the US dollar, ABARES said, adding that year-on-year output increases in the first three quarters of the year were partially offset by a weather-affected December quarter.
 
"Heavy rain in Queensland affected production at some mines and the operation of some export infrastructure," ABARES recalled.