China Carbon Market Weekly Update – 26 June 2023

Week at a glance (June 19 – June 23, 2023)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market increased sharply for the second consecutive week. Despite a holiday-shortened 3-trading-day week, total weekly volume rose to a 2023 high of over 1.1 million tons, with block trades returning after a one-week absence and open market transactions reaching a seven-month high of 725,001 tons. The closing price for open market transactions decreased 1.4% from the previous week to 57.00 yuan ($7.94) per ton. The volume-weighted average price for all of the week’s trades, pulled down by much lower-priced block trades, was 52.44 yuan ($7.30) per ton.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets decreased to only 18,128 tons for the three-day trading week. Tianjin led the markets, accounting for nearly all of their combined volume. Meaningful CCER price information was available from the Sichuan, Guangdong, and Shenzhen markets. All three continued maintaining a price premium over their CEA counterparts.
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