China Carbon Market Weekly Update – 19 June 2023

Week at a glance (June 12 – June 16, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market increased sharply to a four-week high, closing with a weekly total volume of 471,700 tons, well above the 2023 year-to-date average weekly volume of 277 thousand tons. Remarkably, this entire volume was composed of open market transactions, which reached an 18-month volume high. The closing price for open market transactions decreased slightly to 57.80 yuan ($8.11) per ton, retreating from a 2023 high reached in both of the previous two weeks. The volume-weighted average price for all of the week’s trades was 57.30 yuan ($8.04) per ton, setting an 18-month high.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets rose to a combined total weekly volume of 105,148 tons, close to the 2023 median. Sichuan led the markets, with Tianjin and Beijing also seeing meaningful volumes. Meaningful CCER price information was available from the Sichuan, Shanghai, Beijing, and Shenzhen markets. All of these markets continued maintaining a price premium over their CEA counterparts, ranging from 4.7% for the Shenzhen market to over 40% for Beijing.
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