EU carbon price passes symbolic 100 euros as reforms bite (yahoo.com)
In late February 2023, the price of carbon permits on the European Union’s carbon market hit 100 euros ($106.57) per metric ton – the amount of increased costs that factories and power plants must pay when they emit carbon dioxide.The EU has laid down a path to become carbon neutral by 2050, meaning it would only emit as much carbon dioxide as can be absorbed again through natural or artificial means. In 2005 it established an emissions trading system, or ETS, where major emitters have to buy allowances for every ton of CO2 they release.
The price, calculated per ton of carbon dioxide or equivalent greenhouse gas emissions, had long remained under 25 euros before rising sharply about two years ago. It had hovered around 90 euros for the past year until Tuesday, when it passed the 100-euro mark for the first time."
What do you think this is going to do to coking steel manufacturers and their profit margins? Soon the premiums of high grade DR pellets will be more affordable than the carbon penalties incurred by utilizing coaking coal. GO MGT!
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