Westpac Carbon Update

Thursday's prices from Westpac

13 Jun 13 - Westpac is buying spot NZUs at $1.78.

NZU supply tight

15 Mar 13 - NZU trading remains sporadic, as switching flow dictates price action, says Westpac.

Where are the sellers?

1 Mar 13 - NZUs remain very illiquid as sellers remain absent from the market, Westpac reportts.

Marketing getting news-fatigue

1 Feb 13 - International prices fell sharply last night as news headlines continue to dictate the mood of the European carbon markets, Westpac reports.

New low for European carbon

25 Jan 13 - It hasn’t been a good month for European carbon prices, with EUAs plunging from around EUR6.75 at the beginning of January to a record low of EUR2.81 for the Dec13 EUA contract overnight.

Pre-1990 NZUs fail to fire market

18 Jan 13 - The year has started slowly for the domestic carbon market.

Plans to reduce supply in world's largest market

23 Nov 12 - International prices have traded sideways following last week’s back-loading proposal announced by the European Commission.

Follow the leader ...

26 Oct 12 - The New Zealand carbon market continues to follow the international market lower, with NZUs trading under NZD3.00 this week to post a low of $2.55 (offer), Westpac says.

Local market awaits the politicians

12 Oct 12 - Trading in local units has been sidelined on the week, with the market clearly waiting for the Finance and Expenditure Select Committee’s report back to Parliament next Wednesday, Westpac reports.

Market weakens on news of February vote in EU ETS

5 Oct 12 - European carbon prices started the week in a consolidation mode, before getting hit pretty hard overnight on Tuesday, Westpac says.

Prices stage a rally ... of sorts

28 Sep 12 - Despite carbon prices remaining at extreme low levels, the overall market has seen a rally of sorts, Westpac reports.

NZUs down in line with European prices

14 Sep 12 - European carbon offsets have continued to fall, down around 30 per cent now since the beginning of the month, Westpac reports.

NZUs hit barrier at $5

7 Sep 12 - Local market trading over the week has occurred in range-bound markets, Westpac reports.

Australian/European linkage causes spike

31 Aug 12 - Carbon markets started the week on a quiet note, with British markets closed on Monday for the final summer bank holiday of the year.

Plenty of cheap ERUs in Europe

10 Aug 12 - International offsets remain pressured, with CERs continuing to suffer as ERUs remain cheaper and in plentiful supply for European emitters, Westpac reports.

New lows for European carbon

3 Aug 12 - European carbon allowances fell further early this week following the release from the European Commission on its proposed changes to the EU ETS on the 25th July, Westpac reports.

Little interest in NZUs

27 Jul 12 - Last night’s offshore trading session saw international carbon prices firm following the sell off seen on Wednesday, Westpac reports.

Little supply but prices look better

22 Jun 12 - NZU prices rose over the week, following European allowances higher, Westpac reports.

All quiet on the carbon front

15 Jun 12 - It’s been another quiet week on the NZU front, with prices spending most of the week around the $6 mark, Westpac reports.