Suncoke expects lower production

INDEPENDENT US coke producer SunCoke Energy has indicated ahead of its second quarter earnings report later this month that its domestic coke production is projected to be down year on year.
Suncoke expects lower production Suncoke expects lower production Suncoke expects lower production Suncoke expects lower production Suncoke expects lower production

SunCoke’s Jewell coke plant in Vansant, Virginia

Staff Reporter

The Illinois-based producer said Q2 domestic coke production was expected to be 1.08 million tons, down about 1.3% versus the same period of 2012.

SunCoke cited lower production for the decline, specifically a drop at its Indiana Harbor facility due to “significant refurbishment”

The company said the decrease at Indiana Harbor was partly offset by higher production at its Haverhill and Middletown facilities.

Suncoke said domestic capacity utilization for the quarter was also estimated to be down, about two percentage points from the same prior year period, also due to lower production at Indiana Harbor.

Coke production at the Haverhill and Middletown cokemaking facilities in Q2 2013 is estimated to be up nearly 12,000 tons to approximately 455,000t.

SunCoke Energy Partners, a Suncoke subsidiary, owns a 65% interest in the two facilities, with 296,000t of Q2 2013 production from Haverhill and Middletown attributable to it.

Capacity utilization at Haverhill and Middletown collectively was 110% in Q2 2013, up 2% from the previous corresponding period.

Investment analysts at Credit Suisse started coverage on SunCoke’s shares in a note issued to investors on Monday, according to Stock Ratings Network.

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