欧盟碳市场行情简报（2025年第59期）-20250409

Report Industry Investment Rating - No specific investment rating for the industry is provided in the report. Core Viewpoints - EU stocks rebounded significantly, and EUA stopped falling and stabilized. Due to the increasing uncertainty risks, it is recommended to wait and see, with the lower support at €55 [1]. - There are both positive and negative factors in the market. Positively, the EU will hold a summit with China in July to commemorate the 50th anniversary of China - EU diplomatic relations, and EU stocks rebounded significantly. Negatively, the EU is considering Article 6 of the Paris Climate Agreement to achieve its 2040 climate goals, and the EU's environmental chief vows to reduce the implementation of green rules [2]. Summary by Related Catalogs Market Conditions - Primary Market: The EUA auction price was 60.35 euros/ton (up 0.99%), and the bid - cover ratio was 1.62. On April 8, 2025, the auction volume was 324,550 tons, and the auction revenue was 195.87 million euros [1][3]. - Secondary Market: The EUA futures closing price was 62.75 euros/ton (up 0.56%), with a trading volume of 44,500 lots (down 2.17). The futures open interest on April 8, 2025, was 330,700 lots, and the spot settlement price was 61.73 euros/ton (up 0.99%) [1][4]. Influencing Factors - Positive Factors: The EU will hold a summit with China in July to commemorate the 50th anniversary of China - EU diplomatic relations, and EU stocks rebounded significantly [2]. - Negative Factors: The EU is considering Article 6 of the Paris Climate Agreement to achieve its 2040 climate goals, and the EU's environmental chief vows to reduce the implementation of green rules [2]. Risks (Excluded as per requirements, but for reference) - The EU resumes Russian gas supply, increases auctions to raise funds, and weakens the emission cap [3].