Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Carbon Trading Volume Rose to Record in EU December Permits

Feb. 17 (Bloomberg) -- Carbon trading in benchmark December European Union emissions permits had the busiest ever day yesterday as prices surged.

The volume of EU December 2012 carbon futures leaped 64 percent to a record 30,928 lots, or 30.9 million metric tons, on ICE Futures Europe in London. Open interest, or the number of outstanding contracts, rose by 1.4 percent to 353.1 million tons, exchange data show. The contract’s price rose 7.7 percent yesterday, its biggest gain since Dec. 20.

“New positions have been initiated as prices rallied,” which is evidence of new entrants into the marketplace, Brett Genus, a broker and technical analyst at OTC Europe LLP in London, said today by e-mail. This may indicate that traders opened long positions in a bet prices may rise further, he said.

Permits have advanced 18 percent this week to 9.30 euros a metric ton as of 12:31 p.m. in London, exchange data show. That’s the highest price since Nov. 22.

To contact the reporter on this story: Catherine Airlie in London at cairlie@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.