26.01.2016 - EU Market: Carbon sinks 7.1% to back below €6 as warm weather weakens power prices
EU carbon prices dropped back below €6 on Monday to hit a 20-month low, wiping out late last week’s ‘relief rally’ that had given brief respite to this month’s steep losses. The Dec-16 EUA futures on ICE fell to a session low of €5.72 before climbing back to settle at €5.91, a 45-cent or 7.1% daily loss. Volume on the benchmark contract was very heavy at 29.3 million units including a rare 5 million gone EFP, in what was one of the busiest trading days seen so far this year. The loss reversed the recovery posted late last week, when prices climbed back from their previous low of €6.87 touched on Thursday to hit an intraday high of €6.55 on Friday, before settling at €6.36 – a weekly loss of 5.4%...............................................Full Article: Source