EU
The European Union Allowance (EUA) prices for October averaged at EUR 63.21 per tonne, down 3.37% from the previous month. Price fluctuations during October were driven primarily by volatility in the energy market, shifts in manufacturing demand, and the availability of allowances. The market remains oversupplied, with the rate of reduction in allowance supply slower than anticipated. Despite the end-of-month compliance deadline, there was no significant increase in demand from companies. As winter approaches, weather conditions affecting renewable energy output and natural gas demand are expected to push prices up.
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China
The China Emission Allowance (CEA) prices for October averaged at RMB 102.76 per tonne, up 9.21% from the previous month. This upward trend throughout October reflects recovering demand in the market, coupled with changes in China’s carbon market policies. In mid-month, prices reached a new peak of RMB 104.13 per tonne, supported by policy and anticipations surrounding allowance supply. With rising energy demand and the year-end compliance deadline approaching, CEA demand is likely to increase, suggesting further upward potential for the prices.