After a choppy reaction on the release of Australia’s updated NDC the week prior, ACCU prices again flip-flopped last week, rising on bursts of buying before retreating on relatively lighter liquidity late week. With the 2035 target now in the rear-view mirror, market attention now shifts toward 2024-2025 compliance positioning ahead of the approaching NGERs reporting deadline, and expected higher seasonal prices.
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.
Gains on intermittent buying unwind on late week sell down as ACCU prices flip flop
Total traded volumes across the Australian exchange-traded and over the counter (OTC) carbon markets fell to 650k last week (-540k WoW), down from the post-NDC surge observed the week prior (1.2M). Total volumes also dipped below the current compliance year weekly average (764k) and the equivalent average over the same period last year (1M average over September 2024).
Spot market volumes of 550k (-365k WoW) were led by Generic No-Avoided Deforestation ACCUs (66%), followed by Generic ACCUs (19%), HIR ACCUs (13%) and Savanna Fire Management ACCUs
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