欧盟碳市场行情简报(2026年第14期)-20260123

Report Industry Investment Rating - Not provided Core Viewpoints - The US withdraws tariff threats, TTF surges, and EUA rebounds and recovers. The first - level auction price is 83.55 euros/ton (-1.22%), and the bid coverage ratio is 2.13. The second - level EUA futures settlement price is 87.06 euros/ton (2.47%), with a trading volume of 59,500 lots (-3.55). The strategy signal strength is 0 [1]. - There are two main positive factors: the latest CoT report shows that investment funds' net long positions increased by 440,000 tons last week, mainly due to short - covering; Trump reached a satisfactory agreement framework and made concessions on threatening to seize the island by force and imposing tariffs on European allies. There are no new negative factors [1]. Summary by Related Catalogs EUA Auction Information - On January 21, 2026, the EUA auction volume was 152,450 tons, the auction price was 83.55 euros/ton, the bid coverage ratio was 2.13, and the auction revenue was 127.37 million euros. On January 20, 2026, the EUA auction volume was 271,250 tons, the auction price was 84.58 euros/ton, the bid coverage ratio was 1.67, and the auction revenue was 229.42 million euros [2]. EUA Futures and Spot Information - Futures: On January 21, 2026, the futures settlement price was 87.06 euros/ton (2.47% increase), the trading volume was 59,500 lots (-3.55 decrease), and the open interest was 351,200 lots (no change). - Spot: On January 21, 2026, the spot settlement price was 85.18 euros/ton (2.53% increase), and the trading volume was 3,353 lots (1,675 lots decrease) [2].