China Carbon Market Weekly Update – 17 July 2023

Week at a glance (July 10 – July 14, 2023)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market retreated from the previous week’s 2023 high to a weekly total volume of 694 thousand tons. Block trades were also down from their 2023 high to 500 thousand tons, while open market transactions decreased to 194 thousand tons. All of these volumes, however, were still well above their respective 2023 averages. The closing price for open market transactions increased 3.2% from the previous week, returning to the 12-month high of 60.00 yuan ($8.41) per ton first reached two weeks before. The volume-weighted average price for all of the week’s trades was 58.45 yuan ($8.21) per ton, nearly a 15% increase from the previous week mainly made possible by the recovery of block trade prices.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets decreased to a combined weekly volume of 77,652 tons, well below the 2023 median. Tianjin led the markets, followed by Sichuan and Hubei. Hubei saw its first trades since March 2022.
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