EU Carbon Plunges After German Permit Auction Fails Second Time
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European Union carbon permits dropped as much as 9.4 percent after a sale by Germany failed for a second time this year because bids didn’t reach an unspecified reference price.
EU allowances for December fell as much as 50 cents to 4.80 euros ($6.34) a metric ton on the ICE Futures Europe exchange in London and were at 5.08 euros at 11:10 a.m. The contracts closed at a one-month high of 5.30 euros yesterday.