KAU20 prices have shown some upward strength moving towards KRW 25,000 for the month of October. KAU20 intraday trading recorded its highest volume of 513,000 tons while demand for large-scale bilateral transactions has decreased after the end of the 2019 compliance year.
Certified emissions in the second compliance year that were disclosed through the ETRS showed a decrease of -2.1% year-on-year. 2020 emissions are expected to further decline by -3.8% (scenario 1) or -4.8% (scenario 2) according to our forecasts.
KAU20 sharp price increases are expected to be limited due the effect of the COVID pandemic, with high prices playing in the range of KRW 28,000 - KRW 32,000.
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