China Carbon Market Weekly Update – 7 August 2023

Week at a glance (July 31 – August 4, 2023)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market reversed from a three-week downward trend, increasing to end the week with a weekly total volume of over 554 thousand tons. Open market transactions surged from the previous week’s low volume to twice as much as their 2023 year-to-date weekly average. Block trades were also well above their 2023 weekly average. All price indicators reached their all-time highs during the week, with the weekly closing price for open market transactions registering an all-time high of 66.00 yuan ($9.24) per ton and the volume-weighted average price for all of the week’s trades reaching an all-time high of 63.69 yuan ($8.56) per ton.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets continued its rebound, reaching a seven-week high of 104,695 tons and climbing above its 2023 median. Shenzhen and Beijing led the markets, followed by Sichuan and Shanghai.  On a weekly volume-weighted price basis, available data showed that Beijing, Shanghai, and Sichuan all had a price premium over their CEA counterparts, ranging from Shanghai’s 20% to Sichuan’s 65%, although Sichuan’s open market transaction volume was minimal.
Share this report