Carbon Markets

UPDATE: Spot ACCUs touch new YTD high as options market heats up, but will the seasonal trend continue?

Spot ACCU prices reached a new year-to-date (YTD) high early last week, while derivatives volumes rose to a 3-month high, led by increased options activity – particularly longer-dated puts. Notably, weekly spot volumes have trended lower over the past three weeks, coinciding with declining price volatility. With November 2024 the most constructive month for prices, however, the next few weeks may yet see a break from current patterns, subject to expected increasing issuance into year end.

RepuTex’s Carbon Weekly report breaks down activity in the Australian exchange-traded and OTC carbon markets (spot and derivatives) over the past week, including key trends and drivers, our latest pricing and benchmarks, and our daily forward curves.

Spot ACCUs  touch new YTD high as October continues to trade in tight price range

Total traded volumes across the Australian exchange-traded and over the counter (OTC) carbon markets rose to 989k last week (+364k WoW), lifting above the compliance year-to-date average (774k) and the equivalent average in October 2024 (820k).

Following two successive disrupted weeks due to the NSW Labour Day holiday (October 6) and Singapore investor forum (October 16-17), last week’s return to a full week of trading saw only a marginal uplift in spot

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