California LCFS credits traded as high as $73.50/t in early December ahead of the CARB release, the highest level in over two months. Prompt credits retreated to $65.00/t following the release as the market had pinned hopes to a January or February board vote for the amendments. The start of January saw prompt credit prices slump to $63.00/t from $68.00/t as traders turned bearish following an industry conference where the state’s proposal was criticized for not doing enough to address oversupply.
IN THIS REPORT AEGIS EXAMINES: