Shanghai CO2 allowances fell another 10% on Wednesday, the maximum allowed daily price movement, even as buyers stepped in to pick up permits at record low levels.
SHEAs ended Wednesday at a fresh record low of 4.20 yuan ($0.65), down half a yuan on the day, as smaller emitters continued to offload their annual allowance surplus.
The price has now dropped some 61% since Mar. 25.
Over 55,000 allowances traded Wednesday. That was well above the combined 60,000 units traded over the previous three sessions, which itself was well above the low turnover typically seen outside of the weeks running up to the June compliance deadline.
Read the full story here: Carbon Pulse