Sellers quickly dropped offers Thursday for Seasonal NOx allowances after hearing bids at lower prices in what has been a mostly stagnant Cross-State Air Pollution Rule market.
Brokers said offers dipped as much as $50, falling to $300/st, in an effort to entice trades after hearing bids as low at $275/st.
For about two weeks, sources have reported a roughly unmoved $300-$350/st bid-offer range.
"It's been slow, then those lower bids came in and offers quickly followed," one broker said. "I haven't seen anything trade, but numbers are moving, and that's a change from where we've been stuck."
S&P Global Platts on Thursday assessed 2016 Seasonal NOx allowances at $295/st, down $20 from last week, based on the $300/st offer and broker marks.
Little interest was heard this week for the other three CSAPR allowances, keeping pricing unchanged.
Platts assessed Annual NOx allowances at $7/st, Group 1 SO2 allowances at $1.75/st and Group 2 SO2 allowances at $3.50/st, all based on broker marks.
