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EU carbon dips on global economy woes, low volume

Thu, 08/12/2010 - 1:24am
Reuters

LONDON (Reuters) - European carbon emissions futures drifted down to 14.35 euros a tonne on Thursday as a bearish economic environment and low volume weighed on prices, traders said.

EU Allowances for December delivery were down 0.28 percent at 14.36 euros ($18.51) a tonne at 3:02 a.m. ET, 4 cents below the five-day moving average of 14.40 euros. Volume was light at 956 lots traded.

Traders said prices were likely to trade in a 20 cent range on Wednesday. Some see 14.30 euros, followed by 14.20, as a good level at which to buy back EUAs.

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