Dear Ladies and Gentlemen,
In our market report of August 28, we had noticed that “we can wait in suspense for the price developments in September”. But what actually happened on the carbon market last week, can only be described as spectacular.
The trade started last Monday at 5.83 EUR and then began a rally that catapulted the price in today’s early trading to EUR 7.20, marking a new yearly high. The analyst Stefan Küster from “EnergyCharts” had on Thursday a long-term view on the chart since 2008 and came to the conclusion that the market “technically stands before an important, not to say, „a decisive setting the course”. In this context, he did not rule out that we might see again the ten-euro mark.
In addition to a very positive energy sector, signals from the politics also contributed to this bullish course fire. For example, during the week was announced, that France and Germany are advocating an agreement about the new regulations for the fourth trading period already before the coming world climate summit in November. On Wednesday of this week the trialogue talks will go to the next round and here were news that some progress has been made behind closed doors in the run-up.
It is also remarkable that last Thursday the auction was canceled on the EEX, because the bids were significantly below the market. The volume will now be distributed to the upcoming auctions.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||7.06 EUR||5.82 EUR||+1.24 EUR|
|EUA (December-2017-Future)||7.07 EUR||5.83 EUR||+1.24 EUR|
|CER (Spotmarket)||0.20 EUR||0.20 EUR||+0.00 EUR|
|ICE Brent Crude Oil (Benchmark Future)||53.71 USD||52.73 USD||+0.98 USD|
|EURO (Currency, Forex)||1.2035 USD||1.1860 USD||+0.0175 USD|
(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask have usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. These market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.
With kind regards,
Advantag Services GmbH