From the told ya so department, after a small dead cat bounce yesterday due to an auction, traders are unloading today. Yesterday’s closing price was 5.02, today it is 4.64. That’s a value loss of 8% in a single day. So far, for the month of January, EUcarbon has lost almost 40% of its value, from just below $7 a ton at the end of December.
From Reuters Point Carbon:
EU carbon sinks to new depths on market fix fears
23 Jan 2013 17:46 Last updated: 23 Jan 2013 18:10
LONDON, Jan 23 (Reuters Point Carbon) – EU carbon allowances fell by as much as 16 percent to fresh record lows on Wednesday amid fading optimism that the EU Commission will be able to push though its plans to fix the ailing carbon market and bearish analyst comments, traders said.
As said two days ago, EU carbon is now in charcoal briquette territory.
A ton of EU carbon is worth less than the smallest bag of charcoal briquettes: