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Carbon snapshot

04 May 2012 18:03:07 | edcm

A bearish trend gripped the carbon market on Friday, as prices broke through technical lows. Values were pushed lower by the absence of buyers in the market - interest is down in the week after compliance - as well as falling prices elsewhere in the energy complex, such as electricity and crude oil.

"The carbon market has been crashing, unfortunately, which is not good news," one source said. Traders' consensus was that the market is hitting technical levels, only to go down further. "This makes it the scariest," another source said, adding that he is not expecting a rebound any time soon. Another trader added that a long weekend in the UK, which will keep participants away from their desks, added to the bearish picture.

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