China Carbon Market Weekly Update – 29 May 2023

Week at a glance (May 22 – May 26, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market slowed considerably this week, closing with a weekly total volume of 125,035 tons. Block trades were completely absent for the week. The closing price for open market transactions stayed unchanged from the previous week at 57.00 yuan ($8.06) per ton. The volume-weighted weekly average price for all of the week’s trades was 56.72 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 decreased from the previous week to a combined total weekly volume of 141,757 tons, but stayed above the 2023 median. Shanghai led the markets. Meaningful CCER price information was available from the Shanghai, Sichuan, Shenzhen, and Beijing markets. These markets all had weekly average prices that were higher than their CEA counterparts. Sichuan reached a volume-weighted average price of 172.71 yuan ($24.41) per ton, the highest since the launch of the national CEA market in July 2021.
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