欧盟碳市场行情简报(2026年第37期)-20260305

Report Industry Investment Rating - Not provided Core Viewpoints - The conflict in Iran has doubled the TTF price, and the gas - coal conversion has pushed the EUA price up slightly [1] - Italy plans to "strip" the ETS cost from the electricity price formation mechanism, which may weaken the EUA price signal and hinder the green transition [1] Summary by Related Catalogs Market Conditions - Primary Market: The EUA auction price is 68.77 euros/ton (0.51%), and the bid - cover ratio is 1.46 [1] - Secondary Market: The EUA futures settlement price is 73.33 euros/ton (3.91%), with a trading volume of 58,600 lots (0.18) [1] - Auction Details: On March 3, 2026, the EUA auction price was 68.77 euros/ton, the CBAM certificate price was 69.58 euros/ton, the auction volume was 2.7125 million tons, the bid - cover ratio was 1.46, and the auction revenue was 186.54 million euros [3] - Futures and Spot: On March 3, 2026, the futures settlement price was 73.33 euros/ton (3.91% increase), the futures trading volume was 58,600 lots (0.18 increase), the spot settlement price was 71.91 euros/ton (3.89% increase), and the spot trading volume was 4,077 lots (- 883 decrease) [4] Strategy - Signal strength: 0 (0 means empty position, ±1 means slightly long/short, ±2 means long/short) - There are no new positive factors, and the negative factor is Italy's plan to "strip" ETS cost from the electricity price formation mechanism [1]