NZETS carbon prices rocket

Carbon Match is reporting strong interest in NZU above $12NZD http://www.carbonmatch.co.nz

Last week ended on a four year high.  Carbon Match reported:

From bid levels that have sat around the $11.80 level most of the day we have seen buyers reach up again and pay better than the ask on opening, with volume being snapped up to $12.06.

This is a market with a lot of buy-side interest below the surface, but likewise real caution among those on the sell side as would-be sellers hope for a continued rise.

As we wrote earlier in the week, it’s important to temper your expectations with a dispassionate view of the risks, not least of which is that until an announcement has been seen about the 2 for 1, the demand profile of this market remains unknown.

It’s exciting to see this level of prices once again after more than 4 years, but uncertainty is running high and now that today’s willing volume has been cleaned out we are bid $11.85 and offered $12.50.

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