In July 2025, the U.S. coal market saw moderately bullish sentiment driven by supply constraints and resilient demand. Production was tightened by Core Natural Resources’ reduced output at the Itmann mine and the ongoing Leer South outage, cutting merchant availability despite stable annual guidance. Steelmaking demand remained steady, supported by high-capacity utilization and consistent blast furnace operations. Power sector coal use surged during record-breaking electricity peaks from a late-July heatwave, ensuring grid stability when solar output declined. Looking ahead, steady steel demand and potential heatwaves may sustain near-term support, though long-term trends remain shaped by decarbonization and fuel competition.
