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Carbon May Fall Below 6 Euros by Dec. 13, Deutsche Bank Says

Nov. 16 (Bloomberg) -- European Union carbon permits may drop below 6 euros ($7.65) a metric ton before a vote on a plan to address the market glut set for Dec. 13, according to Deutsche Bank AG.

Isabelle Curien, an analyst at the bank in Paris, forecast prices will trade from 6 euros a ton to 8 euros a ton in the period, according to an e-mailed research note.

“However, given the very large volume of allowances coming to market in coming weeks, particularly from the pool of 120 million Phase-3 allowances to be auctioned early, we think there is a risk that prices could fall below 6 euros a ton in the short term,” she said.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Rachel Graham at rgraham13@bloomberg.net

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