EU countries released 5 mln additional free EUAs in two weeks, data shows
EU member states made scant progress in the annual issuance of free EUAs to industry over the last fortnight, with two countries adding just 5 million units to the total number of permits issued since the European Commission published its first report two weeks ago.
Read MoreFutures exchange suspends December 2024 CORSIA futures contract
One of the major futures exchanges in carbon markets has suspended its benchmark contract in CORSIA-eligible carbon credits, straining the credibility of delivery on trades that had been made on the platform.
Read MoreEuro Markets: EUAs consolidate, then give way as sellers return and overcome technical support
European carbon prices gave up much of Wednesday’s gain on Thursday after a consolidation in the morning turned into a decline in the afternoon as sellers returned to the market in some size, while energy markets also fell on technical selling after sharp rises on Wednesday.
Read MoreFalling coal costs for power raise prospect of more EUA demand this winter –analyst
A decline in short-term coal prices in Europe may set the stage for an increase in consumption of the fuel in the coming winter, as operating costs for coal-fired power plants approach parity with those for gas-fired generation, according to an analyst.
Read MoreEuro Markets: EUAs rise most in two months amid technical buying and firm energy as funds boost short positions
European carbon prices posted their biggest daily increase in two months as traders pursued the technical rally that started on Monday and also compensated for the lack of a daily auction, while the weekly Commitment of Traders data showed a sizeable increase in speculative short positions, underpinning the gains as participants looked to test bearish conviction.
Read MoreEuro Markets: EUAs wipe out Monday losses amid technical bounce ahead of auction pause
European carbon prices wiped out most of Monday’s losses despite lower than average trading activity on Tuesday, as traders looked ahead to a pause in the auction programme on Wednesday, while analysts pointed to a technical rally after Monday’s 2.4% drop and some participants also speculated that the market may have reached an interim floor.
Read MoreEuro Markets: EUAs drop to lowest since mid-April as selling pressure picks up and energy weakens
European carbon prices plunged to their lowest in three and a half months on Monday as constant selling pressure and a slew of put options elbowed buyers aside, while energy prices weakened amid an improving gas supply outlook and cooler temperatures, and carbon analysts highlighted changes to the auction programme that mean there will be no cuts in volume sold next month.
Read MoreEuro Markets: EUAs post second weekly loss as bearish trend outweighs pre-weekend short covering
European carbon recorded a second weekly decline with prices falling to an 11-week low amid very light volume, as the market shrugged off a late short-covering rally ahead of the weekend, while energy markets also saw a quiet end to the week as the summer holiday season neared its peak.
Read MoreEuro Markets: EUAs test major support level either side of short-lived afternoon rally as gas rises
European carbon allowance prices weakened marginally on Thursday, repeatedly testing support at a key psychological and technical level even after a steep rally in gas prices in the afternoon had briefly interrupted EUAs’ bearish trend.
Read MoreEuro Markets: EUAs drop to two-week low as gas support evaporates
European carbon prices fell to their lowest in more than two weeks on Wednesday, as energy markets followed a downward trend from the opening, robbing EUAs of their recent support from stable gas prices, even as weekly positions data from the futures exchanges showed a modest increase in speculators’ bearish bets.
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