EU carbon price edges up on falling auction volume

摘要

The price of carbon dioxide allowances under the EU Emissions Trading System edged higher in late July, bouncing back from a dip earlier in the month, and taking modest support from expectations of a sharp drop in primary supply in August. The first half of the month saw prices drop sharply, after the market appeared to have been overbought ahead of the July 3 EU Parliament vote on market intervention. Despite the EP voting yes to the EC's proposal to withhold up to 900 million EU Allowances from auctions, EUAs for December 2013 delivery eased to a low of Eur4.03/mt on July 10, down from an intra-month high of Eur4.69/mt on the day of the vote.