NZUs bounced on Friday, rising 25 cents on about 50,000 tonnes.
The market snapped back as quick as it fell. It turned very quickly on Friday and given the size of the fall in both price and volume terms, that wasn’t really a surprise.
However, given the market is really dearth of news and unlikely to see anything until the Zero Carbon Bill come backs into Parliament (expected October) and ETS changes are finalised; it’s hard to get too bullish here.
Nevertheless, as we move through the quiet period of Q2 and Q3 and we remain below $24, NZUs are…