China Carbon Weekly Market Update – 24 October, 2022

Weeks at a glance (October 14-October 21, 2022)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market held its upward momentum from the previous week, totaling 245,960 tons for the current week. The weekly total volume, comprised of only open market transactions, was near the historic median of 249K tons. Open market transaction prices ended the week at 58.49 yuan/ton ($8.22/ton[1]), 0.84% higher than the previous closing. The volume-weighted average price of all of the week’s trades was 58.45 yuan/ton ($8.21/ton), 0.75% above the previous trading week.
  • Activity across the nine China Certified Emission Reductions (CCER) markets dropped sharply to only 97,186 tons for the week.  Beijing led the markets, accounting for over 71% of the combined volume.  Beijing’s weekly volume was composed of open market transactions only, with a volume-weighted average price of 88.40 yuan/ton ($12.36/ton).

[1]1 US$ = 7.1186 RMB, middle price, October 21, 2022, China State Administration of Foreign Exchange. Same for all other values quoted in US dollars ($) in the newsletter.

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