On the ESC front, creation activity continues to be relatively subdued with just over 33,000 certificates created this week, of which 28,000 were from commercial lighting projects. Despite this lack of supply the spot market continues to wallow with only one trade again this week, for 5000 certificates at $24.75. This represents a fall of 25c from last week’s trade. The forward market was more active and also reflected a weakening in the price with 120,000 certificates trading at an average of $24.55 for delivery between January and April next year. All of this trading activity was concentrated in just the one day, Wednesday, with the rest of the week showing no reported trades.
For VEECs, creation numbers continued at just over 150,000 again this week. The spot market commenced trading lower for the first half of the week, reaching a low of $13.70 on Tuesday. Wednesday saw no trading but on Thursday the price found some support with the first trade at $14.00 and by Friday’s close the last deal for the week was set at $14.15. The forward market repeated this pattern with prices falling to $13.85 midweek before recovering to $14.25 on Friday. A total of 110,000 certificates dealt for delivery between March and November 2017
The LGC spot price was unmoved this week with only two trades reported at $87.75 for a total of 40,000 certificates. Trading in the forward curve was also fairly quiet with the discount for delivery in January 2019 widening to $1.10 below the spot price. STCs remain steady with the clearing house still in play.
If you have any questions about your certificate trading requirements, please contact the team.