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Weekly Carbon Outlook – Nov 20, 2017

November 20, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices saw a 10-cent gain throughout the week. The current front (V17 Nov 17) and benchmark (V17 Dec 17), closed the week at USD 15.23 and USD 15.25, respectively.
  • OCA front and the benchmark prices now stand at CAD 19.39 and CAD 19.44, respectively.
  • OI creation was significant, having an overall positive net change of 3,191,000 contracts
  • The traded volumes have decreased from 15,587,000 tons to 7,328,000 tons

Price Expectations

  • Front moves back over a declining 4-week MA as momentum remains largely neutral pre-auction
  • Secondary market least impacted if current auction clears close to USD 15
  • Pre-auction positioning could alleviate spot pressure and volatility

CCO Tracker

  • Over 103K ROCs awarded to four livestock projects and one Forestry (Avoided Conversion) project
  • An ODS project and a Forestry project were the two newest projects to be listed recently
  • CCO prices have registered a minor increase last week with CCO 8 prices registering the highest increase
  • The backlog of ROCs now stands at over 35 million after ROCs were awarded to projects last week

Key Dates

  • Nov 28-Joint Community Meeting for Minimizing Community Health Impacts from Freight and Community Air Protection Program

Download this report (pdf)

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