U.S. Carbon Exports

In September 2023, carbon exports from the United States shrank slightly to 11K tons, waning by -3.6% on the month before. Overall, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in January 2023 with an increase of 17% month-to-month.

In value terms, carbon exports expanded to $29M (IndexBox estimates) in September 2023. Over the period under review, exports recorded a pronounced slump. The pace of growth was the most pronounced in January 2023 with an increase of 19% month-to-month.

Exports by Country

Canada (5.4K tons), Mexico (2.8K tons) and Germany (500 tons) were the main destinations of carbon exports from the United States, with a combined 78% share of total exports.

From September 2022 to September 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +0.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for carbon exported from the United States were Canada ($11M), Mexico ($5.8M) and Switzerland ($2.5M), with a combined 65% share of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +0.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In September 2023, the carbon price amounted to $2,628 per ton (FOB, US), with an increase of 5.9% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 9.6% m-o-m. Over the period under review, the average export prices hit record highs at $2,919 per ton in January 2023; however, from February 2023 to September 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was Japan ($6,861 per ton), while the average price for exports to Canada ($1,984 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform