Crazy! World Coal Prices Rally Continues, Translucent US $ 65 / ton

Jakarta, CNBC IndonesiaCoal price This week is still continuing the rally in price increases that have occurred during the last month and has been above the level of US $ 65 / ton.

This week, the benchmark coal price on the ICE Newcastle market (Australia) has again jumped 4.55% on an annual basis point-to-point. On weekend trading, the coal price is closed above US $ 65 / ton, to be exact at US $ 65.45 / ton.


Amid the continuing increase in cases of Covid-19 infection which is the main threat of falling commodity prices, positive news about the development of the Covid-19 vaccine is tucked.

In the past 2 weeks several vaccine developers reported their preliminary analysis of their final clinical trial results. Pfizer, BioNTech and Moderna are the three developers who bring this good news.

The Covid-19 vaccine candidate they developed is claimed to have an efficacy rate of more than 92%. This is able to make the prices of financial assets and commodities including coal jump higher.

Earlier last week, vaccines made by Pfizer and BioNTech were claimed to be successful in their final clinical trials by more than 90 percent. The good news is, this week, the percentage of successful vaccines makes antibodies in adults increased by up to 95%.

Apart from the Pfizer vaccine, Moderna also claims the same as the final stage clinical trial success of up to 94.5%.

“This is a momentum of improvement in the development of our Covid-19 vaccine candidate. Since early January we have been pursuing this virus as intensely as possible to protect humans around the world as much as possible. Positive analysis of the phase III study provides early clinical validation that a vaccine can prevent Covid-19 , “said Moderna CEO Stephane Bancel.

In August 2020, Moderna said it was selling the vaccine at a price of US $ 32-US $ 37 per dose to a number of buyers. However, if you sell in large quantities, the price can be much cheaper.

At the end of this year, Moderna said it was ready to send around 20 million doses of vaccine to the US. Then next year, 500 million to 1 billion doses of vaccine will be distributed globally.

Indeed, Australian coal exports to China drop but offset by increased imports from India, Japan and South Korea which are the largest fossil energy consumers in the Asian region after China.

Exports to India in September this year were recorded at 5.97 million tons. However, Indian coal imports from Australia are predominantly coking coal and therefore have little impact on the price of thermal coal.

Outside of China, Australia’s main thermal coal customers are Japan and South Korea, which provides a more positive picture for the Kangaroo coal miners.

Australian exports to Japan have increased slightly in recent months. Coal exports were recorded at 8.3 million tonnes in October and 8.45 million in September. Exports in those two months were the best since March.

Shipments to South Korea reached 4.95 million tonnes in October, an increase from 4.24 million in September and became Australia’s strongest export since December last year.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(chd / chd)


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