全国碳市场行情简报(2025年第196期)-20251120

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - With the gradual emergence of compliance pressure and the basic release of mandatory circulation quotas, the upward momentum of carbon prices begins to accumulate, and carbon prices may enter a stage of trending recovery [3] - Since late October, affected by non - market factors, power generation groups have started to jointly support prices, leading to increased carbon price fluctuations [3] - The increase in the basic carry - over quota of the steel, cement, and electrolytic aluminum industries to 100,000 tons is positive for carbon prices [3] Group 3: Summary by Related Catalogs Market Conditions - CEA: Quotas rose across the board, with a more than 38% decline in trading volume. There were 1.146 million tons in the listing and 0.909 million tons in the bulk trading [3] - CCER: The listing agreement trading volume was 20,000 tons, and the average trading price was 72.00 yuan/ton, with a 1.53% change [3][8] Price and Volume Details - CEA Price and Change: The closing prices of CEA19 - 20, CEA21, CEA22, CEA23, and CEA24 were 67.65 yuan/ton, 67.06 yuan/ton, 66.96 yuan/ton, 65.01 yuan/ton, and 67.63 yuan/ton respectively, with price increases of 10.00%, 7.83%, 8.21%, 6.16%, and 9.08% [6] - CEA Trading Volume: The total trading volumes of CEA19 - 20, CEA21, CEA22, CEA23, and CEA24 were 5,000 tons, 17,000 tons, 53,800 tons, 368,300 tons, and 1.6109 million tons respectively [6] - CCER Trading Information: The average trading price was 72.00 yuan/ton, with a 1.53% change. The trading volume was 20,000 tons, the trading amount was 1.441 million yuan, and the cumulative trading volume was 4.5797 million tons [8] Strategy - The signal strength for the day is 2 (0 means empty position, ±1 means slightly bullish/bearish, ±2 means bullish/bearish) [3]