全国碳市场行情简报（2025年第123期）-20250728

Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The forced circulation quota exhaustion node could be a real support for the carbon price reversal, with the exhaustion expected in mid - early October, but anticipatory trading may lead to signs of a carbon price reversal in Q3 [6] - Before August, due to slow release of forced circulation quotas and low trading willingness, the carbon price may remain volatile. From September, as compliance pressure emerges, the upward momentum may be released and the price may rise [6] - It is recommended that deficit enterprises make batch purchases at low prices before the end of August [4] 3. Summary by Relevant Catalog Today's Market - The main carbon trading targets showed weak trends, and market transactions were mainly through listing agreements [4] - For CEA, the main target barely closed in the positive territory, with 41.7 tons listed and 12.4 tons in bulk transactions [4] - For CCER, the listing agreement trading volume was 0.16 tons, and the average trading price was 81.94 yuan/ton, with a 0.45% increase [4][10] Carbon Quota (CEA) Market Details | Carbon Quota | Closing Price (yuan/ton) | Daily Change (%) | New - Old Price Difference (yuan/ton) | Bulk Transaction Average Price (yuan/ton) | Total Trading Volume (tons) | Listing Agreement Trading Volume (tons) | Bulk Agreement Trading Volume (tons) | Total Transaction Amount (ten thousand yuan) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CEA19 - 20 | 71.34 | 0.00% | - | N/A | 0.00 | 0.00 | 0.00 | 2232.13 | | CEA21 | 74.40 | 0.00% | 3.06 | N/A | 0.00 | 0.00 | 0.00 | 0.00 | | CEA22 | 74.50 | 0.40% | 0.10 | N/A | 0.00 | 0.00 | 0.00 | 0.00 | | CEA23 | 74.44 | - 0.25% | - 0.06 | 70.81 | 30.59 | 18.17 | 12.42 | 0.01 | | CEA24 | 74.51 | 0.01% | 0.07 | N/A | 23.49 | 23.49 | 0.00 | 1750.60 | [8][9] CCER Market Details - The average trading price was 81.94 yuan/ton, with a 0.45% increase, the transaction amount was 13.11 ten thousand yuan, the trading volume was 0.16 tons, and the cumulative trading volume was 239.07 tons [10]