[SMM Steel] European carbon prices stabilize at €74–76/t amid geopolitical and policy signals

Published: Apr 23, 2026 15:08

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[SMM Steel] EU carbon allowance (EUA Dec-2026) prices fluctuated around €74–76/t in the second half of April, moving inversely to energy prices. Prices briefly rose to €77.5/t on April 17 amid Middle East easing signals but later retreated as oil and gas prices fell. Market sentiment remained cautious with subdued trading due to Iran-related uncertainties. Meanwhile, UK carbon prices gained after the government announced the abolition of the CPS mechanism from 2028, reinforcing structural changes in carbon pricing.

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