Carbon weekly newsletter

This newsletter was published 15.4.2021 at 9:07am CEST.

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

EUA prices stay glued to the highs. There was no change week on week and the whole trading range was compressed at only around 1.5 EUR/EUA from low to high. Trading volumes were relatively low as well in what was one of the calmest weeks of the year so far.As we are moving closer to the compliance deadline at the end of April, buying pressure is keeping prices from falling but there has been no appetite to push them further up. Options activity was subdued as well, with open interest increasing by around 15.5 million EUA in total on all strikes and maturities. Calls were, as usual, a big favourite at a ratio of 2:1. Overall, global markets are trending up and it seems like there is no fear of a correction. Optimism is peaking and this is keeping all markets well bid with no clear short-term risks in sight.

German power prices are down 1 EUR/MWh since last week, with the front year contract trading at 56.80 EUR/MWh. API2 coal prices are up 0.50 USD/tonne since last week, with the Cal22 contract trading at 72.50 USD/tonne. EUR/USD is up 80 points since last week and is currently trading at 1.1970.

Price development of EUA Dec2020 futures contract


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