China Carbon Market Weekly Update – 9 January 2023

Weeks at a glance (January 3 – January 6, 2022)

  • After a flurry of activity over the last several weeks of 2022, China’s national Carbon Emissions Allowance (CEA) market started 2023 with a very quiet holiday-shortened week. The total volume for the week was only 5,491 tons, all of which were open-market transactions. Prices bounced off the 2022 low set in the previous week, closing the week 1.8% higher at 56.00 yuan/ton ($8.13/ton). The volume-weighted average price for all of the week’s trades was 55.18 yuan/ton ($8.01/ton), 1.13% lower than the previous week.
  • Activity across the nine China Certified Emission Reductions (CCER) markets mirrored that of the CEA market, quieting down significantly from the previous week to only 28,992 tons. Nearly all of this volume came from the Tianjin market. The volume-weighted average price for Sichuan’s 104 tons of open market transactions was 60.87 yuan/ton ($8.83/ton), 11.6% higher than the previous week and 10.3% higher than its CEA counterpart. 
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