[SMM Daily Review of Hydrogen Cost] July 17, 2025

I. Coal-to-Hydrogen

The coke transaction range in Shandong was [1,030-1,050], with an average hydrogen cost of [1.16 yuan/m³]

The coke transaction range in Hebei was [1,090-1,160], with an average hydrogen cost of [1.28 yuan/m³]

The coke transaction range in Shanxi was [1,185-1,380], with an average hydrogen cost of [1.32 yuan/m³]

The coke transaction range in Henan was [1,215-1,225], with an average hydrogen cost of [1.33 yuan/m³]

II. Natural Gas-to-Hydrogen

The natural gas transaction range in eastern Guangdong was [4,910-4,910], with an average hydrogen cost of [2.32 yuan/m³]

The natural gas transaction range in Guangxi was [4,610-4,860], with an average hydrogen cost of [2.23 yuan/m³]

The natural gas transaction range in Shanxi was [4,200-4,500], with an average hydrogen cost of [2.08 yuan/m³]

The natural gas transaction range in Hebei was [4,280-4,600], with an average hydrogen cost of [2.14 yuan/m³]

The natural gas transaction range in Shandong was [4,560-4,660], with an average hydrogen cost of [1.99 yuan/m³]

The natural gas transaction range in the Pearl River Delta was [4,890-4,920], with an average hydrogen cost of [2.11 yuan/m³]

The natural gas transaction range in Hubei was [4,410-4,690], with an average hydrogen cost of [1.97 yuan/m³]

The natural gas transaction range in Henan was [4,300-4,430], with an average hydrogen cost of [1.89 yuan/m³]

The natural gas transaction range in Guizhou was [4,350-4,640], with an average hydrogen cost of [1.94 yuan/m³]

The natural gas transaction range in Sichuan was [4,243-4,530], with an average hydrogen cost of [1.9 yuan/m³]

The natural gas transaction range in Zhejiang was [4,530-4,730], with an average hydrogen cost of [2 yuan/m³]

The natural gas transaction range in Inner Mongolia was [4,210-4,430], with an average hydrogen cost of [1.87 yuan/m³]

The natural gas transaction range in Heilongjiang was [4,400-4,710], with an average hydrogen cost of [1.97 yuan/m³]

III. Propane-to-Hydrogen

The propylene oxide transaction range in north-east China was [7,440-7,480], with an average hydrogen cost of [4.17 yuan/m³]

The propylene oxide transaction range in east China was [7,490-7,510], with an average hydrogen cost of [4.19 yuan/m³]

The propylene oxide transaction range in Shandong was [7,260-7,310], with an average hydrogen cost of [4.11 yuan/m³]

The propylene oxide transaction range in south China was [7,780-7,790], with an average hydrogen cost of [4.33 yuan/m³]

IV. Hydrogen Production from Methanol

In north-east China, the methanol transaction range was [2,280-2,430], with an average hydrogen cost of [2.17 yuan/m³]

In east China, the methanol transaction range was [2,235-2,440], with an average hydrogen cost of [2.16 yuan/m³]

In central China, the methanol transaction range was [2,170-2,380], with an average hydrogen cost of [2.15 yuan/m³]

In north China, the methanol transaction range was [2,100-2,220], with an average hydrogen cost of [2.01 yuan/m³]

In south China, the methanol transaction range was [2,410-2,420], with an average hydrogen cost of [1.77 yuan/m³]

In north-west China, the methanol transaction range was [1,635-2,090], with an average hydrogen cost of [1.41 yuan/m³]

In south-west China, the methanol transaction range was [2,080-2,300], with an average hydrogen cost of [1.62 yuan/m³]