The Australian carbon market saw an uptick in activity last week on late trading, with ACCUs continuing to hold a tight trading range whilst firming to retest the June YTD highs. Derivatives stayed thin, with OTC forward positioning continuing to be struck further along the curve. Notably, scrutiny of the newly determined INFM method intensified, which we consider within this weekly update, while across certificate markets, the recent LGC rally continue to soften post EOFY.
RepuTex’s Carbon Weekly report breaks down activity in the Australian exchange-traded and OTC carbon markets (spot and derivatives), including recent trends, drivers, and our latest spot and forward pricing benchmarks.
ACCUs again test above $38 before easing on active end to the week
Total traded volumes across the Australian exchange-traded and OTC carbon markets jumped to 610k last week (+350k WoW), above the year-to-date (YTD) weekly average (~545k), as a heavy Friday session drove the lift in activity.
Spot volumes (560k, +360k WoW) dominated at 92% of the weekly total, up from 77% a week earlier, as derivatives stayed thin. The Generic basket made up 76% of spot volumes – Generic No-Avoided-Deforestation ACCUs (74%) and Generic ACCUs (3%) – with HIR ACCUs at 15%, Savanna
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