A ”Game of Chicken”: How long do you dare to wait before buying?

The EUA market rallied 3.

4% ydy and is adding another 0. 5% this afternoon with EUA Dec-24 at EUR 54.

2/ton.

Despite the current bounce in prices we think that the ongoing sell-off in EUA prices still has another EUR 10/ton downside from here which will place the low-point of EUA Dec-24 and Dec-25 at around around.