China Carbon Market Weekly Update – 1 May 2023

Weeks at a glance (April 24 – April 28, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market resumed its decline after a one-week uptick, closing this week with a weekly total volume of 11,140 tons.  Block trades were absent for the 8th time in the 16 trading weeks of 2023. The closing price for open market transactions this week recovered from a 16-month low from the previous week, ending the week 3% higher at 55.00 yuan ($7.94) per ton. The volume-weighted weekly average price for open market transactions was 54.86 yuan ($7.92) per ton, 1.7% higher than the previous week. Both prices, however, were still among the lowest since December 2021.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets dropped significantly, ending this week with a combined weekly volume of 49,447 tons, its lowest since early January. Tianjin led the markets for the fifth week in a row. Meaningful price information was available from the Shanghai, Shenzhen, and Sichuan markets. Although varying widely among the markets as well as fluctuating considerably from week to week, these prices have generally maintained a substantial premium over their CEA counterparts since April 2022.
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