Cement News tagged under: carbon trading
China starts public consultation on emissions accounting and verification guidelines09 April 2024, Published under Cement NewsChina is carrying out a public consultation on drafting guidelines regarding emissions accounting and verification for the country’s cement sector until 15 April 2024. This would lay the foundation for the sector’s inclusion in the national compliance carbon market, according to the Ministry of Ecology and Environment. The consultation document only provides instructions for companies how to calculate and report their emissions and for provincial governments to carry out verifications. It ... |
Carbon markets tested EUR50 before correcting 20% higher – political uncertainty in EU and US main drivers28 March 2024, Published under Cement NewsBy Frank O Brannvoll, Brannvoll ApS, Denmark The EUA December 2025 contract prices fell briefly to EUR50 levels not seen since the COVID-19 pandemic and sent shivers through many green projects that depend on relatively high carbon prices. The fear of a European Parliament that after the election would downgrade the green transition to a lower priority, in combination with the US Republican Trump stating that the US would leave the Paris agreement (again) and all subsidies from IRA could... |
WCA host 7th General Assembly in London15 March 2024, Published under Cement NewsThe World Cement Association (WCA) held its 7th General Assembly on February 27th in London at the National Liberal Club. Representatives from member organisations participated in the GA, both in-person and virtually, engaging in discussions on current activities, upcoming plans, and the election of new board members. The event concluded with a networking lunch, providing an opportunity for members to connect and exchange ideas. The agenda featured a comprehensive outlook on the global cemen... |
Carbon price collapses due to political uncertainty and speculative pressure – major support tested28 February 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Sharp falls were seen in the European carbon market, as several political factors from demonstrations and political uncertainty hit the market during January and February. This, in combination with the ongoing lower energy complex, especially gas and coal, has sent the price for the Dec 24 contract to EUR60, the lowest seen for years. Speculators have also been seen to shorten the market as large auctions to finance the Repower EU funds are be... |
Carbon sharply higher after change of contract to Cal 24, now pressured from lower energy complex24 January 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The shift in contract to December 2024 sent the price EUR10 up without any real news in the market. The overall energy complex has gone lower and as a result, the carbon price rallied up to EUR80. Several speculators went short again in the new contract. Industrial demand is still sluggish and is expected to worsen if a recession were to hit the US and Europe. EUA front-year contract, March 2022-February 2024 The COP28 did not sen... |
Carbon testing long-term uptrend support at EUR68 after breaking below EUR8027 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark As reported in ICR’s December 2023 issue the break of EUR80 could mean a larger shift in sentiment and this was clearly proven right. Pressured by lower oil, gas and coal prices, as well as continued subdued industrial demand the December 2023 contract has fallen to the major support around EUR68. In addition, financial players have been seen switching out of long positions and going short on a larger scale than before. However, it also nee... |
Carbon falling below EUR80 after larger auctions and lower gas prices29 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market has fallen below the major support of EUR80, pressured by a lower energy complex and shift to gas from coal as a higher spark spread has been lowering compliance buying. The auctions used to provide funding for renewable subsidies have increased, adding to the price pressure. In addition, industrial demand destruction has not recovered and several industries are running on lower production. Starting in October, CBAM is exp... |
Carbon price keeps falling, driven by lower gas and coal prices25 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market was almost unchanged at EUR81 after having reached EUR86, but lower oil, gas and coal prices pushed the EUA downwards. As the support of EUR84 was again breached, technical selling from speculators also increased. The increased auctions kept adding selling pressure to the market. The price is still seen in a EUR80-88 range but may test the major support at EUR78. EUA front-year contract, January 2022-October... |
Cemtech Europe opens in Istanbul: Turkey prepares to launch domestic ETS10 October 2023, Published under Cement NewsCemtech Europe 2023 , the leading cement industry conference in Europe organised by International Cement Review , has opened in Istanbul, welcoming over 300 delegates from 40 countries. Welcoming delegates to the conference, Volkan Bozay, CEO of the Turkish Cement Manufacturers Association, TÜRKÇİMENTO, highlighted the strengths of the domestic industry, which now includes 120Mta of clinker capacity and is ranked as the fifth-largest industry worldwide. Mr Bozay acknowledged the earthq... |
EUA stuck in range trading – while UK price hits new low25 September 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Lack of political news kept the market in a range drifting slightly lower due to lower gas prices, fear of industrial demand destruction as interest rates kept rising, as well as weaker equity markets spilling into traders sentiment. The European Commission has proposed that industrial companies must include emission reduction plans with five-year intervals up to 2050 to keep receiving free emission allowances. This proposal is currently un... |