EU carbon allowance auction heats up, €82.6 price reflects resilient demand

⑴ According to data released by the European Energy Exchange on Monday, the EU auctioned approximately 2.25 million spot carbon allowances that day, with the average transaction price set at €82.6 per ton—slightly higher than last week's German auction at €82.5. This indicates a stable price focus. ⑵ The auction coverage ratio was 1.57 this time, lower than last week's German auction (2.15) and the Polish auction (1.69), but still above 1.5, showing that market participants' willingness to absorb allowances remains strong and bidding enthusiasm stays at a relatively high level. ⑶ Reviewing the latest three auctions, the price has gradually rebounded from €81.5 in Poland to the current €82.6, displaying a mild upward trend. Despite differences in supply volumes, price resilience is evident, reflecting continued market confidence in the long-term tightening expectations of the European carbon market. ⑷ Overall, the slight uptick in auction prices and the stable coverage ratio together indicate that, despite macroeconomic uncertainties, the demand foundation for carbon allowances remains solid. Subsequent focus will be on the direction of EU energy policy and expectations for winter demand as further guides for carbon prices.