European carbon prices stabilized above 14 euros a tonne early Tuesday, trading in a narrow range a day after permit prices fell by four percent.

EU Allowance futures for December delivery opened slightly weaker and quickly traded down to a key technical support level of 14 euros a tonne, the lowest since April 16 and down 7 cents from Monday's close.

The benchmark contracts then recovered, trading up to 14.07 euros by 0700 GMT on light volumes of around 1,200 lots.
EUA prices tumbled late on Monday after breaking below a key technical support at 14.35 euros, a move traders said triggered several stop-losses, which drove prices down to a 3-month low.
"The market came off pretty fast after going through that support, and now that CO2 prices have lost 10 percent in five sessions, the question is where the buying from utilities will come in," said Jean-Francois Cauvet of C2C Commodities.