China Carbon Market Weekly Update – 27 February 2023

Weeks at a glance (February 20 – 24, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market further increased from the previous week, ending this week with a total volume of 1,002,010 tons and crossing the 1-million-ton mark for the first time in 2023. Block trades registered 1 million tons on the last day of the week. Open market transaction prices remained stable, closing the week at 56.50 ($8.20) per ton, slightly higher than the previous week. The volume-weighted price for all of the week’s trades was 55.00 yuan ($7.97) per ton, 3.7% lower than the previous week.
  • Activity across the nine China Certified Emission Reductions (CCER) markets stayed subdued, ending the week slightly higher than the previous with a total volume of 94,960 tons. Tianjin led the markets for the fourth week in a row, making up nearly 70% of the markets’ combined total volume. Shanghai’s volume-weighted weekly average price dropped to 48.48 yuan ($7.03) per ton while Sichuan’s price increased to 112.18 yuan ($16.27) per ton.
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