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.
India coal auction prices rise on seaborne volatility
India coal auction prices rise on seaborne volatility
Singapore, 6 April (Argus) — Premiums at India's domestic coal auctions rose sharply in March with industrial buyers moving to secure supply following a surge in seaborne coal prices and freight rates, led by the US–Iran conflict and pre-summer restocking by power utilities. State controlled Coal India (CIL) — which meets about three-quarters of India's coal needs — recorded an average premium of 45pc in its March electronic auctions over the notified prices applied to long-term contracted sales, it said last week. This compares with an average premium of 35pc in February. Meanwhile, the overall average premium stood at 38pc for the April 2025-March 2026 financial year. The rise in premiums reflects the rising cost of imports, prompting buyers to actively seek domestic coal sold through spot electronic auctions, also known as single window mode agnostic e-auctions. These auctions accounted for 14pc of CIL's sales in the previous financial year. Coal and petroleum coke prices, along with freight rates, have risen sharply following supply-demand imbalances, amplified by geopolitical tensions in the Middle East. Argus assessed Indonesian GAR 4,200 kcal/kg coal at $59.51/t fob Kalimantan on 2 April for Supramaxes, up by about 10pc from $54.31/t on 27 February, just before the tensions escalated. Prices have also risen by 33pc from $44.91/t at the start of the year. Newcastle NAR 5,500 kcal/kg coal rose by 1.9pc to $87.59/t fob on 2 April, compared with late February and is up by 24pc since the beginning of the year. South African NAR 5,500 kcal/kg coal was assessed 7.4pc higher at $96.11/t fob Richards Bay on 2 April compared with that of 27 February, with prices 31pc higher on a year-to-date basis. Indian utilities typically import Indonesian coal that meets technical parameters of most coastal power plants. Delhi has already asked all thermal power utilities to prepare for a harsher summer . Meanwhile, India has directed private-sector utility Tata Power to restart its 4GW imported coal-fired utility in western Gujarat state . Sponge iron producers prefer coal from South Africa with a high fixed carbon content, while cement makers prefer petroleum coke, and switch to coal during price surges. Cfr India 6.5pc coke was assessed 24pc higher since the start of the war at $160/t on 1 April. The prices are also up by 36pc on a year-to-date basis. Currency volatility has added to landed costs. The Indian rupee averaged at 92.90 rupee to a dollar in March, compared with Rs90.76 in February. It has slipped further to Rs93.46 so far in April, implying additional cost in rupee terms. But coal auctions are priced in rupees, shielding buyers from foreign exchange swings. Auctions Among CIL's subsidiaries, Northern Coalfields recorded the highest March auction premium at 80pc, followed by South Eastern Coalfields (SECL) at 70pc and Eastern Coalfields at 48pc. Individual auction results show a 25-171pc premium growth over the notified price. The highest growth in premium was for a G10 or GAR 3,100-3,400 kcal/kg domestic coal from SECL's Amadand mine, with a deal closing at Rs3,682/t free on rail/road (for) basis, up by 171pc above its notified price. The coalfield also achieved a 45pc premium over the notified price, selling a G6 or GAR 4,200-GAR 4,400 kcal/kg coal at Rs4,014/t on for basis — the domestic market equivalent of fob prices. The prices are still sharply lower than international fob and delivered coal prices. Single window auctions are dominated by industrial buyers, but some independent power producers also participate for small spot volumes. Utilities rely primarily on long term CIL contracts or linkage auctions. Sponge iron, cement costs rise The domestic coal blend in sponge iron production has risen to about 80pc from 30-40pc earlier in key industrial hubs, with some non-integrated units switching entirely to domestic coal to protect margins. Rising auction premiums have pushed up production costs, raising sponge iron prices in key centres like Raipur by 5-7pc, according to Anil Nachrani, president of the Chhattisgarh Sponge Iron Manufacturers' Association. Cement producers are also feeling the impact. The cost of NAR 4,000 kcal/kg coal parcel bought in the auction has risen by 11pc to about Rs8,000/t for delivering the cargo to the plant, increasing per unit energy costs from Rs1.60/unit to Rs1.85/unit, a cement company official said. But the prices are still cheaper compared with Rs2.40/unit on the basis of $150/t cfr price of buying NAR 6,900 kcal/kg Northern Appalachian or NAPP coal. If this uncertainty in the seaborne market prolongs, the premium will increase further, raising the cost of production and potentially cement prices, another cement company official said. By Saurabh Chaturvedi and Ajay Modi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
DOE coal-plant orders yield mixed results
DOE coal-plant orders yield mixed results
Cheyenne, 30 March (Argus) — Only half of the eight US coal-fired power plant units that energy secretary Chris Wright ordered to continue operating this winter actually dispatched appreciable amounts of electricity to the grid. In January, four of the eight coal units the Department of Energy (DOE) ordered to stay open under section 202 (c) of the Federal Power Act had net positive generation, according to power plant operating data recently released by the US Energy Information Administration (EIA). Two other units consumed more power than they dispatched, while another two did not dispatch any generation during the month. Citing an energy emergency, Wright pointed to concerns about grid reliability in ordering the eight coal units and another two units that run on natural gas and oil to stay open instead of retiring as planned in 2025. Wright then extended the emergency orders for these units when the directives expired, pointing to the same concerns. But some politicians and environmental and consumer groups have disputed Wright's claims grid operators faced potential emergencies. Data from the EIA show that two units at the first coal plant DOE ordered to stay open last year — Consumers Energy's JH Campbell plant in Michigan — dispatched power every month following the department's initial order on 23 May 2025. Another unit at the plant had net generation in June-October as well as December but consumed more energy than it dispatched in November 2025 and in January 2026. Unit 17 of NiSource's RM Schahfer plant and unit 2 of Centerpoint Energy's FB Culley plant, both of which were initially issued emergency orders in December and had them extended on 23 March, also generated power in January. But Schahfer unit 18, which also is subject to the order, had net -3,705MWh on generation in January. DOE's recent orders keeping retiring plant units open have required the plant units be available for dispatch when needed. But that did not mean that they had to generate power at other times. With the exceptions of storms in late-January and early February, the weather in the US most of this past winter was relatively mild. Constellation Power said it operated Eddystone units 3 and 4, which run on natural gas and oil and have been subject to DOE orders since 30 May 2025, during hot weather at the end of June and end of July and during winter storm conditions and colder than normal weather 26-29 January. Extending operations at the last minute can be complicated by fuel availability and other factors. Of the two coal units under emergency orders that did not dispatch any power in January according to EIA, Tri-State Generation & Transmission's Craig unit 1 ,was taken out of service in mid-December because of a mechanical failure, while TransAlta's Centralia plant was put in "cold-shutdown" in early December. DOE issued emergency orders to both units at the end of December, shortly before they were scheduled to retire. The agency extended the order for the Craig unit on 30 March and the order for Centralia on 16 March. DOE last year also issued an order allowing Talen Energy to run unit 4 of the HA Wagner oil-fired plant in excess of emissions limits if needed for reliability, but that order expired at the end of 2025. Talen expects to operate Wagner units 3 and 4 until 31 May 2029. By Courtney Schlisserman US coal plants with active emergency orders Plant name Jan 26 net generation ( MWh ) Jan 26 consumption ( st ) Jan 25 net generation ( MWh ) Jan 25 consumption ( st ) JH Campbell unit 1 155,951 89,633 187,955 107,469 JH Campbell unit 2 -612 0 193,811 108,375 JH Campbell unit 3 431,520 245,342 578,398 320,758 Centralia 0 0 430,197 302,227 Craig unit 1 0 0 174,089 100,975 RM Schahfer unit 17 172,064 90,574 98,307 54,965 RM Schahfer unit 18 -3,705 0 136,987 70,368 FB Culley unit 2 9,338 6,092 17,922 10,884 — EIA Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan plans temporary ease of coal power restriction
Japan plans temporary ease of coal power restriction
Osaka, 27 March (Argus) — Japan is moving to temporarily lift restrictions on the operations of inefficient coal-fired power plants in the April 2026-March 2027 fiscal year to conserve LNG on rising uncertainty over imports from the Middle East and ensure stable electricity supplies. The trade and industry ministry Meti on 27 March unveiled an emergency plan to suspend in 2026-27 the capacity market rule that requires coal-fired plants with design efficiency below 42pc to keep their annual capacity factors at 50pc or lower. Plants that exceed the limit would face a 20pc reduction in capacity market revenues. Uncertainty remains over future LNG supply, especially from Qatar, in the event of a prolonged or worsening situation in the Middle East, although there is no immediate risk to short-term supply, Meti said. Power and gas utilities currently hold roughly 4mn t of LNG inventories, equivalent to one year of imports through the strait of Hormuz, and efforts to secure alternative procurement are ongoing. Assuming that inefficient coal-fired units operate at the average rate for coal-fired plants in 2026-27, the power sector could save around 500,000t of LNG, which is equivalent to a little over 10pc of the 4mn t/yr imported through the strait of Hormuz, according to Meti. Meanwhile, the emergency measure would increase Japan's demand for thermal coal, whose supply sources are not exposed to the conflict in the Middle East. Japan imported 8.7mn t of steam coal in February, sourcing 76pc from Australia, 10pc from Indonesia, 5pc each from the US and South Africa respectively, 3pc from Canada and 2pc from Russia, according to preliminary data released today by the finance ministry. Japan has pledged to phase out inefficient coal-fired plants by 2030, while promising not to build new unabated coal-fired plants. But coal remains a vital power source, accounting for 29pc of Japan's power mix in 2024-25, close to the 32pc share of gas. Japan's latest power capacity market auction, covering delivery year of 2029-30, secured around 166GW of generation capacity. The auction results did not specify the source of awarded capacity, but the breakdown of bidding volumes shows 38.15GW from coal fired units, including 5.27GW from inefficient coal fed plants. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Philippines issues emergency orders for energy security
Philippines issues emergency orders for energy security
Singapore, 26 March (Argus) — The Philippines is implementing energy-conservation directives, including measures that could lead to greater reliance on coal-fired generation, as part of a broader energy conservation drive after the country declared a state of emergency on 25 March following supply disruptions caused by the US-Iran war. President Ferdinand Marcos launched a 20bn Philippine peso ($33.2mn) emergency fund on 26 March to strengthen fuel security in times of volatility in the global energy and freight markets caused by the war. The Philippines is a net importer of coal, oil and LNG. The P20bn emergency fund, managed under the department of energy's (DOE) emergency energy security programme, will support the stockpiling of up to 2mn bl of fuel to meet domestic requirements and reduce the impact of supply disruptions. This includes the procurement of refined petroleum products such as LPG to build inventories. The DOE will also ensure stable fuel inventories at utilities to support electricity generation. The DOE also seeks to minimize external supply shocks for utilities and ensure full capacity utilisation at power plants in line with its goal of boosting power system efficiency. An increase in coal-fired generation within the overall power mix could cushion an increase in wholesale electricity spot market (WESM) prices and help in saving up to P2/kWh, the DOE said. This comes as an initial projection by the independent electricity market operator (IEMOP) indicate that average power prices in the WESM could exceed P9/kWh, from an average of up to P5/kWh before the onset of the US-Iran war. Coal accounted for 54.6pc of power generation in February, IEMOP data show. The DOE's emergency measures to secure power supply could increase utility demand for both domestic and imported coal, although it was not immediately clear if the directives would curb coal exports from the country. "As a net importer of oil, coal and LNG, we are acting with heightened discipline to preserve power system reliability in the face of escalating global fuel market volatility," the country's energy secretary Sharon Garin said today. "This is a decisive intervention to protect the grid, manage fuel use responsibly and ensure that essential electricity services remain uninterrupted," she added. The DOE has ordered power generators to closely monitor fuel inventories and comply with the 15-day supply requirements. Utilities have also been instructed to explore fuel alternatives to reduce costs and ensure adequate supplies. Potential steps include using higher biodiesel blends in oil-based power plants, blending different coal grades, and increasing co-firing of biomass where possible at coal units. The country will rely more heavily on coal-fired output , Garin had said during a press briefing on 24 March. Most of the Philippines' power generation depends on seaborne imports from Indonesia. Nearly all of Philippines' coal imports in 2025 were from Indonesia, with shipments reaching 37.4mn t, according to the customs data. The country's reliance on Indonesia also exposes it to supply uncertainty, as Jakarta has yet to confirm mining production quotas for 2026 at the time of writing. Garin met Indonesia's ambassador earlier to seek assurance of steady supply, saying on 24 March that there are "no restrictions on imports of coal from Indonesia at this moment." By Nadhir Mokhtar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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