Carbon Markets Weekly March 30 – April 2

European carbon market experienced a slight bullish trend last week amid thin trading volumes. According to Reuters Point Carbon, markets participants remained cautious after first trilogue meeting in Bruxelles on the MSR did not lead to much progress.

Strong auction results and the the publication of the EU Commission report on EU ETS verified emissions for 2014 on Wednesday (April 1) sent bullish signals. The data released by the European Commission showed EU ETS emissions were down 4.5% year-on-year, higher than the market had expected, which sent EUA prices up to an intraday high of €7.26/t. Thursday (April 2) marked the last trading day of the week ahead of the Easter holidays, with very low trading volumes. The EUAs Dec-15 contract closed at €7.19/t, up €0.38/t (5.58 percent) compared to the previous Friday’s finish.

In the UN-backed CDM market, the CER contract for December 2015 closed flat at €0.43/t.

(Market analysis and data by Thompson Reuters PointCarbon, our data visualization using Tableau Public)