Glencore Steelmaking Coal Output Dips Slightly, Semisoft Slumps Sharply

30 April

Glencore’s Q1 2025 steelmaking coal production totaled 8.3 million tonnes, marking a 6% decline from Q4 2024. The slight dip was primarily due to a modest 3% decrease in Canadian (EVR) output and a sharper 15% drop in Australian volumes following strong Q4 performance. Despite this, production remains in line with the company’s full-year guidance of 30–35 Mt, indicating a steady run-rate ahead.

In contrast, semisoft coal output fell to just 0.7 million tonnes, down 30% from the previous quarter. The decline reflects mine closures and a potential strategic shift away from lower-margin coal grades. With thermal and energy coal guidance revised down and semisoft output shrinking, Glencore appears to be doubling down on premium steelmaking coal. This focus aligns with stronger fundamentals in North American and Indian markets, even as spot prices remain under pressure. The portfolio repositioning reinforces Glencore’s commitment to higher-value coking coal.