Bearish sentiment continues to drive the Australian market as political uncertainty builds ahead of the 2025 federal election, now to be held in early May.
In this Carbon Weekly report, we break 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.
ACCU prices fall, undoing early week recovery, as political uncertainty builds
Total traded volumes across the Australian exchange-traded and over the counter (OTC) carbon markets held steady last week at 1.035M units (+5k WoW), 13% above the 6-month rolling average of 915k. The spot market accounted for 665k (-195k WoW), with activity heavily concentrated in Generic No-Avoided Deforestation (No-AD) ACCUs with an 87% volume share, marking a year-to-date high. Remaining volumes were split across HIR ACCUs (11%) and Generic ACCUs (2%).
No further trading of Safeguard Mechanism Credits (SMCs) was observed, although opportunistic bids emerged at $23.50/t – well below the most recently traded level of $33.70/t on Feb 28 (Note: RepuTex has launched a new daily SMC price assessment, effective from Thursday, 27th February 2025. Click here to read more).
Spot market activity opened
Unlock our award-winning research insights
Request access to learn more about our research services, or click here to register for free access to our articles and price information.