EMISSIONS: UKAs Nearest-December Contract Open Interest Hit All-time High
May-09 14:33
UKAs nearest-December futures contract open interest hit an all-time high on 7 May at near 53k contracts, with participation rising ahead of EU-UK Summit on 19 May as investors eyeing on EU-UK ETS linkage progress.
- UKAs DEC25 contract open interest has been rising steadily since the price dropped to £40 in early March, increasing by 19%, while the price has gained 34% over the same period.
- Speculator positioning in UKA futures on the ICE exchange continued to be bullish in the week to 2 May, with net long positionings hitting record high.
- Talks about relinking EU-UK ETS have emerged since late January, causing a rally in UK ETS prices.
- The EU-UK summit will take place on 19 May.
- UKA DEC 25 down 0.58% at 51.47 GBP/t CO2e today
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