China Carbon Market Weekly Update – 31 July 2023

Week at a glance (July 24 – July 28, 2023)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market continued to decrease from the 2023 high set three weeks before to a weekly total volume of only 312 thousand tons. Open market transactions decreased substantially from the previous week while block trades only dropped slightly. Prices remained strong during the week amid volume declines. The weekly closing price for open market transactions registered the second highest of all time at 61.05 yuan ($8.56) per ton, while their volume-weighted average price reached an all-time high of 62.56 yuan ($8.77) per ton. The volume-weighted average price for block trades also reached an all-time high at 61.00 yuan per ton. The volume-weighted average price for all of the week’s trades was 61.06 yuan ($8.56) per ton, also an all-time high.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets rebounded after declining for two consecutive weeks, ending the week with a combined weekly volume of 68,194 tons. Shanghai and Beijing led the markets for the second week in a row.  On a weekly volume-weighted price basis, Beijing continued maintaining a price premium over its CEA counterpart while Sichuan’s price decreased to below its CEA counterpart for the first time since March.
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