Whitehaven Coal has reported a 1 per cent increase in managed sales of produced coal, reaching 7486 kilotonnes during the September quarter. However, managed run-of-mine (ROM) coal output experienced a 15 per cent decrease, falling to 9048 kilotonnes. Equity sales of produced coal also saw a slight dip of 1 per cent, settling at 5.9 kilotonnes. Whitehaven Coal is an Australian coal producer focused on supplying high-quality coal to both domestic and international markets. The company owns and operates several mines in New South Wales.
The PLV HCC Index remained subdued throughout the quarter, reflecting soft seaborne market demand and ongoing uncertainties related to US tariffs. The company noted that Indian metallurgical coal demand from Australia continued to be affected by discounted Chinese steel exports. Despite these challenges, Whitehaven Coal indicated that China’s efforts to curb steel production and address oversupply are providing early indications of a recovery in metallurgical coal prices and an improvement in market sentiment.
The gC NEWC Index demonstrated improvement in the September quarter, driven by increased demand during the northern hemisphere summer. This was further supported by production curtailments and the impact of weather disruptions on supply from New South Wales. The company stated that demand for coal products remains strong despite the period of softer pricing. Whitehaven Coal is prioritising margin optimisation, cost management, and the careful allocation of capital.
In terms of sales mix by revenue for the September quarter, metallurgical coal accounted for 56 per cent, while thermal coal contributed 44 per cent. The lower weighting of metallurgical coal reflected the 30 per cent sell-down of Blackwater, coupled with the rally in thermal coal prices ahead of the recovery in metallurgical coal prices.
