China Carbon Weekly Market Update – 3 January, 2023

Weeks at a glance (December 26-December 30, 2022)

  • Activity in China’s national Carbon Emissions Allowance (CEA) market subsided from the previous week’s 2022 record volume but still totaled nearly 4.9 million tons for the last week of the year, making it the second-highest weekly volume for 2022. The last two months of 2022 saw a burst of trading activity after the release of the draft CEA allocation plan by the MEE. These two months combined to account for over 66% of the 2022 annual total volume. Market prices continued their recent steady downtrend. Open market transaction prices closed the week at a 2022 low of 55.00 yuan/ton ($7.90/ton). The volume-weighted average price for all of the week’s trades was 54.91 yuan/ton ($7.88/ton), 1.1% lower than the previous week.
  • Activity across the nine China Certified Emission Reductions (CCER) markets surged for the third week in a row, totaling 402,375 tons for the week. The overall activity was propelled by a strong volume of 368,412 from the Tianjin market. Available price information from the Shanghai and Sichuan markets showed that both markets closed 2022 on a high note, with Shanghai setting a 2022 high of 85 yuan/ton ($12.20/ton) for all trades and Sichuan setting a 2022 high of 95.63 yuan/ton ($13.73/ton) for block trades.
Share this report