UniCredit Cuts EU Carbon Permit Forecast for 2013 to 5 Euros

UniCredit SpA (UCG) cut its forecast for European Union carbon permits to an average 5 euros a metric ton in 2013, predicting a measure to delay sales of some allowances is unlikely to be implemented next year.

The high volume of permits to be sold at auctions next year will depress prices, Kathrin Goretzki, a commodity analyst at the bank, said in a research note published today.

“We expect prices for EU allowances to fall further in 2013, trading in the range of 3.5 euros to 6.5 euros a metric ton,” she said.

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