China Carbon Market Weekly Update – 5 June 2023

Week at a glance (May 29 – June 2, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market held steady after a steep drop in the previous week, closing with a weekly total volume of 125,141 tons. This volume is the median for 2023 but stands below the 25th percentile of all past weekly volumes. The closing price for open market transactions rose 2.6% from the previous week to 58.50 yuan ($8.24) per ton, a new 2023 high. The volume-weighted average price for all of the week’s trades, dragged down by the low average price of block trades, was 46.00 yuan ($6.48) per ton, the lowest since December 2021.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets increased to a combined total weekly volume of 197,008 tons. Sichuan led the markets. Available market price information showed that except for the Guangdong market, all other CCER markets maintained a price premium over their CEA counterparts, ranging from 35% for the Beijing market to 233% for Sichuan.
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