Coal
Overview
Global thermal coal prices surged to record levels in 2022, experiencing unprecedented volatility. Prices have since come off as risks associated with Europe’s supply recede. At a global level, coal demand remains robust with security of supply shifting higher up the agenda of many governments in light of geopolitical upheaval.
In Europe, sanctions have shifted the region’s coal import mix away from Russia and towards other suppliers. The pace of coal plant phase-outs in the region is set to increase in the years ahead, with the role of coal in the electricity mix shifting further towards peak-load usage, making forward planning more challenging.
In Asia-Pacific, thermal coal remains a pillar of the power and industrial sectors. Global coal trade flows and price spreads are shifting, with flows from key suppliers Russia, Indonesia, Australia, South Africa, Colombia, and the US penetrating new markets, in response to price dynamics and trade barriers.
Keeping on top of prices and flows, and how coal markets intersect with other energy and commodity benchmarks, will be critical in the coming years.
Latest coal news
Browse the latest market moving news on the global coal industry.
Kyrgyzstan begins coal supply for heating season
Kyrgyzstan begins coal supply for heating season
London, 9 September (Argus) — Kyrgyz state-owned coal producer Kyrgyzkomur has started supplying households and retail users in preparation for the heating season, the government has said. Kyrgyzkomur has begun work on delivering roughly 25,000t of coal to the central Naryn region, one of the country's coldest regions with long winters and rural settlements that rely heavily on coal for household heating. The local mayor's office in Naryn will organise four municipal coal bases to ensure residents receive the necessary fuel. Local authorities also plan on receiving 13,000t of additional coal for municipal enterprises. Deliveries have also begun in the At-Bashinsky district — the southernmost and coldest part of Naryn — for residents and local institutions, Kyrgyzkomur said. The target is to deliver around 21,000t for residential use this year and 4,700t for institutions, according to the producer, with around 1,600t already delivered. The producer noted that while coal is already available at warehouses at At-Bashinsky, local demand has yet to pick up. Coal in the region is sold at prices set by the government's anti-monopoly service — 6,800 soms/t ($77.76/t) for coal from the Kara-Keche mine and 4,700 soms/t for coal from the Turuk mine. Both mines are in the Naryn region. The government has maintained control over domestic coal sales since introducing a new price regulation system last month, aimed at making the fuel more affordable during the winter. By Shreyashi Sanyal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Final 2026 nEZ auction heavily oversubscribed
Final 2026 nEZ auction heavily oversubscribed
Hamburg, 9 September (Argus) — The final auction for German 2026 national emissions certificates (nEZ) today, 9 September drew bids far exceeding available volumes. Market participants are now shifting their focus to the secondary market and the supplementary purchase phase starting in November. A total of 110 participants bid for 496,856,346 nEZ at €65 each. Only 10,682,308 certificates were allocated, leaving the allocation rate virtually unchanged at just over 2pc. Many entities obligated under Germany's Fuel Emissions Trading Act (BEHG) have still been unable to secure enough certificates to meet compliance requirements after the auction. These companies must now either buy nEZ on the secondary market or acquire extra certificates from November at the fixed price of €68/nEZ. Supply on the secondary market remains very limited, according to market participants. Most auction participants with compliance obligations under the BEHG have generally not yet met those obligations. As a result, the main sellers are typically firms that bought nEZ solely for resale at a profit. Offer prices are generally quoted at €66.50-67.50/nEZ. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan backs coal-led decarbonisation in SE Asia
Japan backs coal-led decarbonisation in SE Asia
Tokyo, 4 September (Argus) — Japan is keen to support "realistic" decarbonization efforts in Southeast Asia while continuing to use coal, delegates heard at the 35th Clean Coal Day International Symposium held in Tokyo on 3 September. Japan will accelerate working together with Southeast Asian countries to support the continued use of coal while reducing carbon emissions, including through ammonia co-firing projects in Malaysia, Takahiro Tajiri, director-general for international affairs at the Agency for Natural Resources and Energy under Japan's ministry of economy, trade and industry Meti, said in a speech at the symposium. Japan has achieved a 20pc of ammonia co-firing with coal during trial operations at the 1GW No.4 coal-fired unit at the Hekinan power plant and aims to raise the co-firing rate to 50pc in the future. Japan can leverage this technology to support Malaysia and other countries in the region, according to Tajiri. Maintaining coal use while reducing carbon emissions through co-firing with renewable fuels such as ammonia and biomass is a "realistic" pathway for many countries, including Japan and those in Southeast Asia, Tajiri said. Coal remains affordable and provides a stable source of energy supply, he added. Japan should help Southeast Asian countries balance energy security and decarbonization through coal-related technologies, including ammonia co-firing, Paul Baruya, director of strategy and sustainability at Future Coal Global Alliance, said at the symposium. Coal has proven to be an alternative fuel to natural gas in many Asian countries when the de facto closure of the strait of Hormuz caused a sudden and unexpected disruption to LNG supply , Yoshikazu Kobayashi, chief economist and director for research strategy and energy security at the Institute of Energy Economics, Japan (IEEJ), said in his speech. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
South Korea confirms merger of five state-run utilities
South Korea confirms merger of five state-run utilities
London, 3 September (Argus) — Plans to merge South Korea's five state-owned power utilities into a single entity were confirmed by the government today. The government is targeting July 2027 for the launch of the merged entity , sources previously told Argus . The utilities, which have operated separately since they were split from state-owned Kepco in 2001, are preparing for the consolidation through a joint task force. The consolidation is designed to bring the utilities' workforce and assets together to strengthen their ability to support the country's transition towards renewable energy and manage a just transition away from coal. The merged entity will provisionally be called Korea Power Generation. It will have a dedicated division to oversee the just transition from coal-fired generation, alongside a renewable energy division. The government expects the combined structure to increase investment capacity, while joint procurement could improve profitability. But market participants have previously questioned the potential cost savings from joint coal procurement, as buying larger volumes does not necessarily translate into lower prices in the South Korean coal market. They instead see greater benefits in coal supply management. Some expected the merger to bring greater transparency to the South Korean coal market, while others questioned whether reduced competition among buyers would benefit the market. The five utilities currently procure coal individually, with price playing a key role in buying decisions. Following the merger, procurement could put a greater emphasis on supply security and fuel quality , market participants said. Further discussions on the merger are due to take place on Friday, sources told Argus . By Dayu Park HQ location of S Korea's state-owned utilities Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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