ACCU prices recorded their first monthly decline since May in September, as a five-month high in issuance added supply and unwound some of August’s gains. RepuTex’s Generic ACCU (Market Close) assessment ended the month at $38.40/t (-$0.50/t MoM), broadly in line with the $38.43/t monthly VWAP across ACCUs and SMCs.
While trading activity eased over the month, spot liquidity strengthened to a ten-month high, reflecting a broader recovery in activity over Q3, with quarterly volumes rising. Despite this, calendar YTD volumes remain well below 2025 levels, with previous corporate accumulation and hedging contributing to slower new derivatives activity.
September was
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