全国碳市场行情简报（2025年第73期）-20250513

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The trading enthusiasm in the national carbon market reached a new high this year, and the comprehensive price of CEA remained firm [4]. - It is recommended that enterprises with quota gaps make batch purchases at low prices before the end of August [5]. - The remaining 40% of mandatory circulation quotas in 2025 can only meet part of the market demand, and about 0.4 - 0.5 billion tons of market demand may be met by the voluntary sales of surplus enterprises [6]. - After the CEA price dropped to around 70 yuan/ton, both rigid and speculative demands emerged, and the trading enthusiasm reached a new high this year. The bottom price of CEA in May may be raised to 60 - 65 yuan/ton. If the selling time of surplus enterprises is postponed, the lower the price bottom, the more limited the rebound height. If the single - day trading volume can significantly increase, the upward momentum may appear at the end of the third quarter [7]. 3. Summary by Relevant Catalogs CEA Market - Prices: The closing prices of CEA19 - 20, CEA21, CEA22, CEA23, and CEA24 were 69.60 yuan/ton, 70.50 yuan/ton, 69.60 yuan/ton, 70.50 yuan/ton, and 70.50 yuan/ton respectively, with the CEA23 having a decline of - 0.01%. The new - old price differences were 0.90 yuan/ton, - 0.90 yuan/ton, 0.90 yuan/ton, and 0.00 yuan/ton respectively. The bulk transaction average price of CEA23 was 91.60 yuan/ton, and that of CEA24 was 70.37 yuan/ton [9]. - Trading Volume: The total trading volumes of CEA19 - 20, CEA21, CEA22, CEA23, and CEA24 were 0.00 million tons, 0.07 million tons, 0.00 million tons, 37.38 million tons, and 174.17 million tons respectively. The trading volumes of the listing agreement were 0.00 million tons, 0.07 million tons, 0.00 million tons, 2.59 million tons, and 30.75 million tons respectively, and the bulk agreement trading volumes were 34.79 million tons, 0.00 million tons, 0.00 million tons, 0.00 million tons, and 143.42 million tons respectively [9][10]. - Total Transaction Amount: The total transaction amounts of CEA19 - 20, CEA21, CEA22, CEA23, and CEA24 were 122603100 yuan, 33694800 yuan, 0.00 yuan, 52800 yuan, and 0.00 yuan respectively [10]. CCER Market - The average transaction price was 92.00 yuan/ton with a 0.00% change. The transaction amount was 0.22 million yuan, the trading volume was 0.00 million tons, and the cumulative trading volume was 175.00 million tons [11].