Carbon Weekly Newsletter

This newsletter was published 30.9.2020 at 12:12pm CEST

The current prices on the European carbon market are as follows:

 

EUA prices are still ranging, however the range is tightening and intraday volatility keeps rising. Prices are basically unchanged week on week, but day to day changes have been significant. For 7 trading days in a row EUAs have been switching between green and red days. This is clear signal that there is no real trend and the market is consolidating between the bigger range of 26 and 30 EUR/EUA. In the last week this range has been compressed between 26 and 28 EUR/EUA. EUAs look well supported amid the rising risks of prolonged weakened economic activity as countries tighten restrictions trying to contain the virus. As we are approaching colder months, we could see further help to push EUA prices up and above 30 EUR/EUA going into the year-end. There are risks of significant fall if prices manage to break below the range, but so far, all the attempts have been met with immense buying activity at the lows.

German power prices are up 0.40 EUR/MWh since last week, with the front year contract trading at 41.40 EUR/MWh. API2 coal prices are up by 0.55 USD/tonne since last week, with the Cal21 contract trading at 60.00 USD/tonne. EUR/USD is up by 30 points since last week and is currently trading at 1.1710.

Price development of EUA Dec2020 futures contract
Yours sincerely,
Jan Kresnik 
Carbon Trader

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