EU Market: EU carbon jumps after strong German auction result

Published 10:08 on October 9, 2015  /  Last updated at 15:19 on May 11, 2016  /  EMEA, EU ETS  /  No Comments

European carbon prices jumped on Friday after Germany’s allowance auction cleared well above market.

European carbon prices jumped on Friday after Germany’s allowance auction cleared well above market.

Front-year EU Allowances trading on ICE Futures Europe climbed as high as €8.21, a daily gain of 8 cents or 1%, immediately following the auction.

Germany sold 3.198 million spot EUAs for €8.16 each, which was a cent above the Dec-15 futures and 3 cents above the secondary spot market at 0900 GMT, the time the auction’s bidding window closed.

The sale received bids for 12.577 million units to give a bid-to-cover ratio of 3.65, which is higher than the year-to-date average of 3.1 but below Thursday’s 2-week high of 4.13

news@carbon-pulse.com

Comment