China Carbon Market Weekly Update – 22 May 2023

Week at a glance (May 15 – May 19, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market was strong this week, closing with a weekly total volume of 825,620 tons, the second highest of 2023. Block trades accounted for nearly all of this volume. The closing price for open market transactions rose 1.8% from the previous week to 57.00 yuan ($8.10 ) per ton, a 2023 high. For all of the week’s trades, the volume-weighted average price was 56.42 yuan ($8.02) per ton, an increase of 0.5% from the previous week.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets retreated from a combined total weekly volume high of the previous week to 163,838 tons but still remained well above the 2023 median. Tianjin led the markets, accounting for over 80% of their combined total volume. The volume-weighted average price of all trade types on the Sichuan markets increased substantially while maintaining a very high price premium over its CEA counterpart.
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