The price of European carbon closed on Tuesday at €25.05, up only €0.05 from Monday’s closing price of €25.00 for the benchmark December 2008 contract. Traders said that with carbon prices at their highest for almost 11 months many market participants opted to take some profits on long positions. The December 2008 contract opened strongly on Monday at €25.20, but dipped below €25.00 as coal prices rose. The secondary CER market remained stable and with little trading interest. The December 2008 contract traded at €16.40 on Tuesday, slightly higher than the traded price of €16.35 a day earlier. 9.2 million allowances were traded on Tuesday.
