SMM Hydrogen Cost Daily Review: March 25, 2025

1. Coal-to-Hydrogen The transaction range of coke in Shandong was 1,190-1,200, with an average hydrogen cost of 1.23 yuan/m³. The transaction range of coke in Hebei was 1,260-1,310, with an average hydrogen cost of 1.4 yuan/m³. The transaction range of coke in Shanxi was 1,360-1,580, with an average hydrogen cost of 1.4 yuan/m³. The transaction range of coke in Henan was 1,380-1,410, with an average hydrogen cost of 1.39 yuan/m³. 2. Natural Gas-to-Hydrogen The transaction range of natural gas in Guangdong Yuedong was 4,910-4,910, with an average hydrogen cost of 2.32 yuan/m³. The transaction range of natural gas in Guangxi was 4,690-4,910, with an average hydrogen cost of 2.25 yuan/m³. The transaction range of natural gas in Shanxi was 4,220-4,580, with an average hydrogen cost of 2.1 yuan/m³. The transaction range of natural gas in Hebei was 4,442-4,735, with an increase of 0.55%, and an average hydrogen cost of 2.2 yuan/m³. The transaction range of natural gas in Shandong was 4,580-4,790, with an average hydrogen cost of 2.26 yuan/m³. The transaction range of natural gas in the Pearl River Delta was 4,890-4,920, with an average hydrogen cost of 2.11 yuan/m³. The transaction range of natural gas in Hubei was 4,530-4,980, with an average hydrogen cost of 2.05 yuan/m³. The transaction range of natural gas in Henan was 4,440-4,650, with a decrease of 1.09%, and an average hydrogen cost of 1.96 yuan/m³. The transaction range of natural gas in Guizhou was 4,650-4,810, with a decrease of 1.28%, and an average hydrogen cost of 2.04 yuan/m³. The transaction range of natural gas in Sichuan was 4,620-4,670, with an increase of 1.2%, and an average hydrogen cost of 2.0 yuan/m³. The transaction range of natural gas in Zhejiang was 4,610-4,940, with an average hydrogen cost of 2.05 yuan/m³. The transaction range of natural gas in Inner Mongolia was 4,280-4,610, with an increase of 0.79%, and an average hydrogen cost of 1.92 yuan/m³. The transaction range of natural gas in Heilongjiang was 4,640-4,830, with a decrease of 1.15%, and an average hydrogen cost of 2.04 yuan/m³. 3. Propane-to-Hydrogen The transaction range of propylene oxide in north-east China was 7,820-7,870, with an average hydrogen cost of 4.36 yuan/m³. The transaction range of propylene oxide in east China was 7,780-7,830, with a decrease of 0.57%, and an average hydrogen cost of 4.35 yuan/m³. The transaction range of propylene oxide in Shandong was 7,660-7,720, with an average hydrogen cost of 4.31 yuan/m³. The transaction range of propylene oxide in south China was 8,300-8,390, with an average hydrogen cost of 4.61 yuan/m³. 4. Methanol-to-Hydrogen The transaction range of methanol in north-east China was 2,600-2,620, with an increase of 0.38%, and an average hydrogen cost of 2.33 yuan/m³. The transaction range of methanol in east China was 2,490-2,770, with a decrease of 0.94%, and an average hydrogen cost of 2.35 yuan/m³. The transaction range of methanol in central China was 2,500-2,650, with an increase of 0.78%, and an average hydrogen cost of 2.34 yuan/m³. The transaction range of methanol in north China was 2,350-2,460, with an average hydrogen cost of 2.16 yuan/m³. The transaction range of methanol in south China was 2,670-2,710, with a decrease of 0.19%, and an average hydrogen cost of 2.38 yuan/m³. The transaction range of methanol in north-west China was 1,680-2,320, with an increase of 1.52%, and an average hydrogen cost of 1.5 yuan/m³. The transaction range of methanol in south-west China was 2,390-2,720, with a decrease of 0.2%, and an average hydrogen cost of 1.86 yuan/m³.