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North America Carbon Market Monthly Review

July 9, 2021Created By: Anant Jain

This report is an an upgrade to the Secondary Market Digest and now includes RGGI coverage and Nova Scotia Cap and Trade Program. Western Climate Initiative CE CCA front price increases by $2.35 after another month of heavy trading activity; ICE secondary market now moves out of auction cycle Secondary…...

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NA Carbon Market Digest: May ’21

June 8, 2021Created By: Anant Jain

This report is an an upgrade to the Secondary Market Digest and now includes RGGI coverage. Summary: CCA prices surge due to CPI rate increase & Joint Auction Result ICE front gained $1.29 over the month, closed at $19.97 RGGI Auction Results released; allowances cleared at $7.97, 5% above previous…...

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Secondary Market Digest: April ’21

May 6, 2021Created By: Anant Jain

Summary: Ambitious climate plans induce strong CCA market volumes; 167M tons traded in April ICE front gained $0.76 over the month, closed at $18.68 Monthly Implied Rate crosses 6% on ICE V21 Benchmark CaliforniaCarbon.info, May 6th, 2021: Some truly ambitious goals were announced this month in California. Firstly, the California…...

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Secondary Market Digest – March

April 8, 2021Created By: Anant Jain

Summary: ICE March Trading Volumes increased by 68% from February Ending of auction cycle and poor industrial production on G17 report drove down CCA front price $0.31 spread between May21 and price floor; market may see more sellers than buyers, indicating resistance in upward price movement CaliforniaCarbon.info, April 8th, 2021:Prices…...

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Secondary Market Digest – February

March 5, 2021Created By: Anant Jain

Summary: ICE California Carbon Allowances showed resilience and didn’t react sharply to auction result. A significant amount of OI creation observed: 26.3M Mt CCA Forward Curve shows Dec23 contract as undervalued. Upward price correction likely in March CaliforniaCarbon.info, March 5th, 2021: California Carbon Allowance prices showed resiliency in February. The…...

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Secondary Market Digest – November 2020

December 4, 2020Created By: Anant Jain

Summary: November auction oversubscribed. Settlement prices $0.25 (Current) and $0.67 (Advance) above the floor. Allowance prices drop after auction date as market expects an oversupply of V20. Prices recover to pre-auction level, few days after the result. CCA Forward Curves start to hug the future price floors (Page 4) CaliforniaCarbon.info,…...

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Secondary Market Digest – September and October

November 12, 2020Created By: Anant Jain

Summary: California Carbon Allowances see an increase in value after a positive August auction. ICE Trading horizon switches to Sep21 and Dec21 Market volumes likely to surge around regulatory compliance cycle in November CCA Forward Curves start to hug the future price floors (Page 4) CaliforniaCarbon.info, November 11th, 2020:California Carbon…...

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Secondary Market Digest – August 2020

September 3, 2020Created By: Anant Jain

Summary: Secondary market prices trade above floor, by about 15 cents, for the second month ICE trading Volumes increase by 20.18% MoM to total 51.9 M MtCO2 e in auction month Covered entities put out bullish expectations pre-auction, with successive net long positions. Better than expected auction outcome, current (0.89)…...

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Secondary Market Digest – July 2020

August 6, 2020Created By: Anant Jain

Summary: Secondary market prices traded consistently above floor, by about 15 cents. The benchmark maintained the $17 mark. ICE trading Volumes shrunk by 34.2% MoM to total  43.2M MtCO2e, Summer vacations take their toll. Open Interest (OI) positions for Sep20 delivery increased by 1.64 million tons; Sep21 delivery increased by…...

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Secondary Market Digest – June 2020

July 6, 2020Created By: Anant Jain

Summary: Secondary market prices suffered losses; the front moved below the floor due to weaker financial participant activity closing at $16.64. Trading Volumes shrunk by 15% MoM, to total  65.71 MTCO2e. Open Interest (OI) positions in V20 Sep20 increased by 4.4 million tons; Front and benchmark positions saw a net…...

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