Cement News tagged under: carbon trading
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... |
EUA stuck in range trading – while UK price hits new low25 August 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 u... |
EUA falls sharply pressured by gas and coal prices25 July 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Still no fundamental or political news in the carbon market. The EUA prices followed the general market upwards and rallied from major support at EUR77 to EUR92 and now back in the middle EUR86. In August the auctions will be lower than previous months, which may bring some support to the market. In the EU manufacturers and households have seen demand destruction and savings on power demand, and as consumption has been lower, reducing the ... |
EUA falls sharply pressured by gas and coal prices03 July 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The EUA price saw a sharp drop below EUR80/t to major support at EUR77/t, pressured by lower gas and coal prices. After compliance buying ended in April, investment funds now have the largest short position since 2018. Following a new round of cuts by OPEC+, gas and oil prices lifted. While there has no political news, the market expects a tightening of the EU’s carbon reduction target to 75 per cent in 2040, replacing the current target... |
Testing uptrend support at EUR80, pressured by lower energy complex25 May 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market saw a sharp drop towards the major support at EUR80-85/t as market players finalised compliance buying. Lower oil, gas and coal prices forced power prices down and led the drop in carbon prices. In addition, power demand has fallen due to warmer than forecast weather. The UK ETS system widened the margin to the EU ETS in April, as the UK is not expected to deliver the same harsh tightening as in the EU. The December 2023 s... |
Compliance buying in volatile markets sees EUA revisit highs02 March 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark January and the start of February saw the return of compliance buying of EUAs with some market speculators believing the latest changes will support the EU ETS to remain strong within the EU green deal. The volatility of EUA prices has seen dramatic moves between EUR75 and back to highs at EUR97 without any specific news other than changing weather conditions and a relatively thin market. EUA front-year contract, September 2021-Jan... |
EUA prices consolidate at higher level awaiting policy decisions23 January 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The increase in fossil fuels use for power generation is keeping the demand for EUAs relatively high. However, a mild winter start and a falling energy complex temper this trend. Therefore, a rally above EUR80 is not expected in the short term as an economic slowdown is expected to lead to demand destruction. Speculators have reduced their presence in terms of size and more short positions have been seen. The market is now awaiting politica... |
EUA rising by end of year, driven by compliance and higher coal and gas prices23 January 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark There has been very little direct news in the carbon market, as political discussions of changes to the EU ETS are still ongoing, and are driven by the movements in the fuel market. However, the market, which had been stuck in the EUR65-75 range, broke out to the upside as year end is approaching and compliance buying and short positions closing from speculative trades have propelled the market upwards. From a warm winter the start of ... |
EUA falling below EUR80 on lower energy complex10 January 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark December was characterised by low trading activity and high volatility. Driven by oil and gas the energy complex fell due to reduced power demand in Europe, lowering compliance purchasing. While the dark spread is still offering higher value, some gas firing has returned, lowering the demand for EUAs. The new front-year contract is trading with high volatility between EUR75-90 and major support still at EUR65. For 2023 Brannvoll ApS expect... |
EUA prices consolidate at higher level awaiting policy decisions28 November 2022, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The increase in fossil fuels use for power generation is keeping the demand for EUAs relatively high. However, a mild winter start and a falling energy complex temper this trend. Therefore, a rally above EUR80 is not expected in the short term as an economic slowdown is expected to lead to demand destruction. Speculators have reduced their presence in terms of size and more short positions have been seen. The market is now awaiting politica... |