Collapse in carbon price accelerated by liquidity search

The European carbon market continued to plummet through January, with EU allowances (EUAs) reaching a record low for phase II of the EU emissions trading scheme (EUETS). By 20 January they had fallen to €11.50 per tonne of CO2 on the European Climate Exchange.

Market prices have been hit hard by deepening economic recession (ENDS Report 406, pp 15-16 ) since a high-water mark of €29.33/mtCO2e on 1┬áJuly 2008.

Selling has accelerated since the autumn, with falling industrial production slashing demand for allowances by sectors such as steelmaking.

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