China Carbon Market Weekly Update – 15 May 2023

Weeks at a glance (May 8 – May 12, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market rebounded from the negligible volume seen in the two days following the Workers’ Day holiday, closing the week with a weekly total volume of 257,527 tons. Both open market transactions and block trades had volumes close to their respective historic medians, while also substantially above the 2023 medians.  The closing price for open market transactions returned to its recent prevailing level of 56.00 yuan ($8.06) per ton after three weeks of lower prices. For all of the week’s trades, the volume-weighted average price was 56.12 yuan ($8.08) per ton, slightly above the historic median.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets increased to a combined total weekly volume of 366,862 tons, a 2023 high. Shanghai led the markets, accounting for 57% of their combined total volume. Meaningful CCER price information was available from the Shanghai, Sichuan, and Beijing markets. The volume-weighted average prices of all trade types on both the Beijing and Sichuan markets maintained a price premium over their CEA counterparts.
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