WELLINGTON (Reuters) - New Zealand carbon prices hit a two-month high this week, extending gains as ongoing speculation of tighter liquidity in the European carbon market was expected to bolster the New Zealand market in the longer term.
New Zealand permits for spot delivery (NZUs) rose as high as NZ$7.00, traders said, their strongest since late April, while light selling by forestry-related participants around that level prevented any further gains.
NZUs traded in a NZ$6.60-7.00 range this week and closed at NZ$6.95 on Thursday, up 35 cents on the previous week.
