China Carbon Market Weekly Update – 8 May 2023

Weeks at a glance (May 1 – May 5, 2023)

  • Activity on China’s national Carbon Emissions Allowance (CEA) market for the holiday-shortened two trading-day week remained extremely low, closing the week with a weekly total volume of 21 tons. The closing price for open market transactions continued its recovery from a multi-month low two weeks before, ending this week at 55.50 yuan ($8.03) per ton, a little less than 1% above the previous week.
  • Activity across the nine regional China Certified Emission Reductions (CCER) markets increased to a combined weekly volume of 57,480 tons despite the fact that there were only two trading days for the week. Sichuan led the markets, followed by Tianjin, Shenzhen, and Shanghai. The volume-weighted average price of open market transactions on the Beijing and Sichuan markets maintained a price premium over their CEA counterpart, while Shenzhen’s price decreased substantially from the previous week, falling below the CEA price.
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