Carvão
Visão geral
Os preços globais do carvão térmico subiram para níveis recordes em 2022, vivendo volatilidade sem precedentes. Desde então, os preços começaram a cair à medida que os riscos associados ao fornecimento da Europa diminuíram. Em um nível global, a demanda por carvão permanece robusta, com a segurança do fornecimento subindo na agenda de muitos governos à luz da agitação geopolítica.
Na Europa, as sanções deslocaram a mistura de importação de carvão da região da Rússia para outros fornecedores. O ritmo de redução gradual das usinas de carvão na região deve aumentar nos próximos anos, com o papel do carvão na mistura de eletricidade se deslocando ainda mais para o uso de pico de carga, tornando o planejamento futuro mais desafiador.
Na Ásia-Pacífico, o carvão térmico continua sendo um pilar dos setores de energia e industrial. Os fluxos comerciais globais de carvão e os spreads de preços estão mudando, com fluxos de fornecedores-chave Rússia, Indonésia, Austrália, África do Sul, Colômbia e EUA penetrando novos mercados, em resposta à dinâmica de preços e barreiras comerciais.
Manter-se a par dos preços e fluxos, e de como os mercados de carvão se cruzam com outros índices de referência de energia e commodities, será fundamental nos próximos anos.
Últimas notícias
Navegue pelas últimas notícias do mercado sobre a indústria global do carvão.
US temporarily waives Jones Act shipping rules
US temporarily waives Jones Act shipping rules
Washington, 18 March (Argus) — President Donald Trump has approved a 60-day waiver of domestic shipping requirements under the Jones Act of 1920 in an attempt to ease a spike in commodity prices caused by the war in Iran. The temporary waiver will allow shippers to transport crude, natural gas, natural gas liquids, fertilizer, coal and other energy-related products without having to comply with the Jones Act, a law that requires shipments between US ports to take place on vessels that are US-built, US-crewed and US-flagged. The waiver is meant to mitigate "short-term disruptions" to oil markets caused by the war in Iran, according to the White House. "This action will allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to US ports for 60 days, and the administration remains committed to continuing to strengthen our critical supply chains," the White House said. US Customs and Border Protection did not immediately respond to a request for comment seeking further details on the waiver. Trump's intervention into the cabotage requirements comes as domestic prices for fuel and fertilizer have spiked in response to attacks on shipping in the strait of Hormuz. US regular grade gasoline prices were $3.72/USG in the week ended on 16 March, up from $2.94/USG before Trump authorized military strikes on Iran. The Jones Act waiver could make it easier for traders to transport the up to 172mn bl of crude the administration plans to draw down from the US Strategic Petroleum Reserve (SPR), starting as early as this week. The waiver will allow that crude to be shipped to other US ports without having to be loaded on a small fleet of Jones Act compliant tankers that are typically more costly to charter. The US Department of Energy finished accepting bids on Tuesday night on an initial solicitation that offered to release half of the crude. The waiver will likely have limited effect on US natural gas flows as the winter heating season winds down, especially with shipping and supply disruptions from the US-Israel war on Iran creating much stronger margins for exporters of US LNG. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indian cement makers brace for fuel price shocks
Indian cement makers brace for fuel price shocks
Singapore, 18 March (Argus) — Indian cement makers are back to their drawing boards to review fuel procurement strategy for new fiscal year starting 1 April after a surge in seaborne petroleum coke and coal prices brought on by the US-Iran war. India — the world's second largest cement market — is a key importer of high-sulphur coke from origins including the US and Saudi Arabia. Procurement teams usually finalise annual plans for the new fiscal in February, but executives are revisiting their estimates after the war created upheaval in supply chain and triggered rally in coke and coal prices. At around 30pc, fuel is the single largest input cost for cement producers. A jump in fuel costs typically pressures producers' margins unless they can fully pass on the increase in cement prices. Producers have faced challenges in raising cement prices in recent years due to large capacity additions and a fight for market share. Prices of coke, a key fuel used in cement making were largely stable in 2024 and 2025. The Argus -assessed delivered India price of 6.5pc coke averaged at around $107.91/t in 2024 and was marginally up at around $111.62/t in 2025. But the average year to date this year is much higher at $124.65/t, while the last assessment was at $145/t on 11 March. April-loading Supramax offers of this high-sulphur coke are being made at $155-160/t to India's west coast. The unexpected surge is making procurement teams review their budget plans for the April 2026-March 2027 fiscal. Procurement executives at leading cement makers said they had planned their fuel spend for next fiscal at an average price of $120-125/t basis on calorific value (CV) of 7,500 kcal/kg, which is the typical CV in coke. But most buyers now realise that the actual number for next fiscal could be significantly higher. "We have tweaked our fuel planning since the war started. We increased our term position of US Northern Appalachian (NAPP) NAR 6,900 kcal/kg coal, raised lifting of domestic coal and trying to postpone booking of coke as much as possible," a cement procurement executive said. The budget exercise undertaken in February is being reworked, said an executive at another cement maker, adding that the share of domestic coal was not significant in the initial plan, but they now aim to use at least 25pc domestic coal in fuel mix, reducing coke burn. "Cement plants located closer to west coast of India are transporting coal from coal hubs in eastern states because there is enough incentive to do so," he said. Cement makers received 1.36mn t of domestic coal in February, up by about 85pc from a year earlier, coal ministry data show. Receipts rose by 43pc from 950,000t in January. Domestic coal prices are regulated and insulated from fluctuations in the seaborne market, allowing cement plants to replace imports. An extended weakening of the Indian rupee against the US dollar has also raised overall import costs, pushing plants to ramp up local sourcing. Indian cement makers imported 382,300t of coke in January, down by 55pc from a year earlier and by 51pc from December, according to shipbroker Interocean. Producers still need to blend coke in certain ratios to use local coal effectively. The removal of a 400 rupees/t ($4.33/t) levy on coal from September 2025 also encouraged producers to raise coal use, but this shift can become more pronounced after the war. Plants can switch between coal and coke depending on cost. "Fuel is a variable cost for cement, and our cost forecast is based on an estimated fuel price. If the variation is abnormal and on the higher side, it will be passed on in cement prices. We evaluated scope to increase domestic coal further after the war," said the fuel procurement head at a cement maker. Cement makers would look at ways to manage input costs, but the success will be limited and ultimately they must raise cement prices. Plants are not as panicked as they were after the Russian-Ukraine war that pushed delivered India coke prices to a record $270/t in early 2022 primarily because domestic coal is abundantly available, said a fuel trader. Supply side challenges in seaborne fuel High fuel price is not just the only problem for cement producers. Coke supply from middle east countries, the second largest source after the US, has been affected due to the war. Coke supplies and loading from the 460,000 b/d Aramco/TotalEnergies' Satorp refinery in Saudi Arabia's Jubail have stopped because vessels can only reach the refinery on the Mideast Gulf coast by traveling through the strait of Hormuz. Many vessel owners are afraid to transit though the strait because Iran has been attacking the vessels. Meanwhile, the Saudi Aramco/Sinopec Yasref refinery in Yanbu, Saudi Arabia continues to load but ship tracking data suggest some operators are concerned about a potential escalation in the Red Sea and are diverting away. Jubail and Yanbu each typically ship about 1.8mn t/yr of coke. At least one Indian cement producer and a non-cement buyer have term coke supply with Saudi Arabian refiners, while several cement makers buy spot Saudi coke. Meanwhile, supplies of NAPP coal, a preferred alternative to coke because of its high-CV, are limited. NAPP offers are scarce and indicated at about $150/t cfr on India's west coast, with at least two key producers lacking volumes to load until May, according to a Dubai-based coal trader. By Ajay Modi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Bangladesh ramps up coal-fired output on LNG shortages
Bangladesh ramps up coal-fired output on LNG shortages
London, 17 March (Argus) — Bangladesh has ramped up coal-fired power generation this month so far, as the country faces an acute LNG shortage triggered by disruptions to shipments from the Mideast Gulf caused by the US/Israel–Iran war. Coal-fired power generation in Bangladesh has risen despite costing almost double that of gas-fired generation, data from the country's power grid show. Bangladeshi coal-fired power generation is estimated to cost $53,294/GWh, compared with around $28,453/GWh for gas. Coal burn could rise further this month, as LNG imports are set to fall sharply. Bangladesh's LNG imports remained steady on the year at 337,000t over 1-17 March, data from analytics firms Kpler and Vortexa show. But only one vessel carrying 74,000t of LNG is signalling for arrival in Bangladesh over the rest of month, indicating monthly receipts will fall short of the 563,000t imported in March last year. The year-on-year shortfall is equivalent to about two LNG cargoes. Around 6.6GW of gas-fired generation capacity in Bangladesh is facing fuel shortages, state-owned power grid reports show. Bangladesh has increased its power imports from India's 1.6GW Godda coal-fired plant since October, putting additional pressure on its foreign exchange balances. In contrast, thermal coal imports have risen, with total arrivals set to be nearly 7pc higher on the year at 1.5mn t in March, Kpler data show. Bangladesh typically purchases Indonesian coal but has recently also bought small amounts of South African coal. About 608,000t of Indonesian coal has discharged in Bangladesh this month so far, alongside 55,000t from South Africa. A further 837,000t of material from Indonesia is scheduled to arrive in Bangladesh over the rest of March, according to preliminary fixtures. The country purchases Indonesian thermal coal of GAR 5,000 kcal/kg and above, a trader said. Argus assessed Indonesian GAR 5,000 kcal/kg coal at $72.46/t fob on 13 March, up from $69.60/t before the conflict in the Mideast Gulf began. Low and mid-calorific value Indonesian coal prices are also elevated because of uncertainties surrounding mining firms' 2026 production quotas. "Brokering into Bangladesh is not easy because of payment issues and negotiating letters of credit from banks," a trader said. The country's reliance on overseas supply continues to strain its foreign exchange reserves and is raising concern among exporters. The war in the Mideast Gulf has led to state-owned gas distributor RPGCL awarding spot cargoes at much higher prices than usual. It awarded a 15-16 March delivery cargo to trading firm Gunvor at $28.28/mn Btu, and another for 18-19 March shipment to trading firm Vitol at $23.08/mn Btu, traders said. Bangladesh was last in the spot market late last year, securing a cargo for 4-5 January delivery at $10.37/mn Btu from TotalEnergies, and a 9-10 January delivery cargo from South Korean trading firm Posco at $9.99/mn Btu. By Ashima Sharma and Irfan Jaafar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US in talks to boost Kazakh coal sector
US in talks to boost Kazakh coal sector
London, 16 March (Argus) — Kazakhstan's energy ministry is in talks with the US over developing the country's coal sector and other ways to maintain energy security, according to an official Kazakh government release. Kazakh energy minister Yerlan Akkenzhenov today met the US ambassador to Kazakhstan, Julie Stufft, to discuss increasing co-operation between the two countries in the energy sector. Discussions included ways in which Kazakhstan can develop its coal processing and expand "clean coal" technologies to boost the efficiency of coal-fired generation and reduce environmental impacts. The parties also discussed partnerships with US firms, including oil majors Chevron and ExxonMobil, to develop oil and gas projects at three of the country's major producing fields — Tengiz, Kashagan and Karachaganak. Other topics for discussion were how to maintain stable export routes from Kazakhstan and developing projects to produce ammonia, urea, synthetic gas and diesel. Kazakhstan has in the past year received investment from China and Russia to develop its coal sector, but the meeting today marked the first sign of official interest from the US in the rapidly growing Kazakh sector. Global energy security concerns have been pushed to the fore by the US/Israel-Iran war , with oil and gas supplies from the Mideast Gulf disrupted by the effective closure of the strait of Hormuz. Kazakhstan has been focusing on ways to utilise its 33bn t of coal reserves as part of the country's national project to expand coal-fired power capacity starting this year. By Shreyashi Sanyal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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