Prices in China's emission trading scheme (ETS) have fallen to the lowest level since the market started trading last month, while trading volumes also dropped this week.

Prices settled at 49 yuan/t ($7.50/t) of CO2 equivalent (CO2e) today, below the Yn51.23/t settlement on the first trading day on 16 July.

Total volumes were 1.42mn t of CO2e this week, including 22,012t of open-bid trades and 1.4mn t of bulk agreements. The volume of open-bid trades has now fallen for five straight weeks.

The weighted-average open-bid price was Yn50.54/t this week, 7.6pc lower than a week earlier. The average price for the bulk agreement transactions was Yn45/t, down by 10.5pc from last week.

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