In May xxxx, U.S. coal prices appreciated on the back of firmer demand and robust supply fundamentals. On the demand front, the consumption picked up in both the power generation and steelmaking sectors. With grid reliability taking precedence amid increasing electricity requirements from residential, data center, and commercial users, plant operation facilitated near-term boosts in thermal coal demand.
At the same time, metallurgical coal consumption improved slightly as a result of increasing domestic steel production and utilization. According to the latest estimate, the prices went up by x.xx month-on-month and reached USD xxx/MT FOB Norfolk.
On the supply front, production was stable, with overall fossil fuel generation showing ongoing dependence on coal to satisfy baseload power needs. In May xxxx, the supply patterns in the U.S. were influenced by increasing power demand and a general increase in energy production.
