The Friday morning market was calm and thin. Prices lifted a little at open, but sagged down towards noon, V2-03 and V1-04 down to around the Thursday close. A trader at a Norwegian production company believed that players probably had become a little too eager on the downside lately, and argued that the hydropower producers won’t start producing as much water as some may think. “The trend is down, but this is not 1996,” he said.
Precipitation numbers the last day was just above 1 TWh in Norway, roughly as expected. The morning prices were in line with yesterday’s close, but in a market as short-positioned as at present, the trader believed some positions would be turned this Friday and that prices could come back up a little this afternoon.The downsideThere is room for more downside
Freitag, 26.09.2003, 12:00 Uhr
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