STC Market Update – 8th October 2019

The STC market softened last week with the price dropping approximately thirty cents. Reduced buying interest caused the decline and indicates that most liable entities have already fulfilled their 3rd quarter surrender requirements. The spot price opened at $37.85 and slowly traded down to $37.50 before one trade late on Friday saw it close at $37.60.

The forward market also saw declines for late 2019 and early to mid 2020. The forward curve leveled out again after being somewhat backdated the previous week. Later in the week a trade was reported at $37.50 for June 2020.

The number of STC’s created last week climbed to approx 745,000. The number of STC’s listed on the clearing house currently sits at 342,234. There is still no movement at the top of the clearing house list which explains why participants are being forced to sell via the secondary market. A link to the STC clearing house can be found here.

Our latest pricing for both registered and non-registered STC’s can be found here.