[SMM Daily Review of Hydrogen Cost] August 12, 2025

I. Coal-Based Hydrogen Production

The transaction range of Shandong anthracite was [1,640-1,640], with an average hydrogen cost of [1.61 yuan/m³].

The transaction range of Hebei anthracite was [1,380-1,380], with an average hydrogen cost of [1.5 yuan/m³].

The transaction range of Shanxi anthracite was [900-900], with an average hydrogen cost of [1.04 yuan/m³].

The transaction range of Henan anthracite was [940-940], with an average hydrogen cost of [1.23 yuan/m³].

II. Natural Gas-Based Hydrogen Production

The transaction range of natural gas in eastern Guangdong was [4,300-4,330], with an average hydrogen cost of [2.07 yuan/m³].

The transaction range of Guangxi natural gas was [4,230-4,400], with an average hydrogen cost of [2.06 yuan/m³].

The transaction range of Shanxi natural gas was [3,910-4,250], with an average hydrogen cost of [1.98 yuan/m³].

The transaction range of Hebei natural gas was [4,060-4,265], with an average hydrogen cost of [2.05 yuan/m³].

The transaction range of Shandong natural gas was [4,160-4,660], with an average hydrogen cost of [1.92 yuan/m³].

The transaction range of Pearl River Delta natural gas was [4,310-4,330], with an average hydrogen cost of [1.87 yuan/m³].

The transaction range of Hubei natural gas was [4,320-4,520], with an average hydrogen cost of [1.93 yuan/m³].

The transaction range of Henan natural gas was [4,180-4,370], with an average hydrogen cost of [1.85 yuan/m³].

The transaction range of Guizhou natural gas was [4,260-4,640], with an average hydrogen cost of [1.93 yuan/m³].

The transaction range of Sichuan natural gas was [4,120-4,466], with an average hydrogen cost of [1.86 yuan/m³].

The transaction range of Zhejiang natural gas was [4,190-4,520], with an average hydrogen cost of [1.89 yuan/m³].

The transaction range of Inner Mongolia natural gas was [4,150-4,390], with an average hydrogen cost of [1.85 yuan/m³].

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

III. Propane-Based Hydrogen Production

The transaction range of north-east China propane was [4,200-4,720], with an average hydrogen cost of [2.68 yuan/m³].

The transaction range of east China propane was [4,470-4,610], with an average hydrogen cost of [2.72 yuan/m³].

The transaction range of Shandong propane was [4,560-4,850], with an average hydrogen cost of [2.82 yuan/m³].

The transaction range of south China propane was [4,550-4,570], with an average hydrogen cost of [2.73 yuan/m³].

IV. Hydrogen Production from Methanol

In north-east China, the methanol transaction range was [2,380-2,390], with an average hydrogen cost of [2.18 yuan/m³]

In east China, the methanol transaction range was [2,330-2,430], with an average hydrogen cost of [2.19 yuan/m³]

In central China, the methanol transaction range was [2,260-2,490], with an average hydrogen cost of [2.22 yuan/m³]

In north China, the methanol transaction range was [2,190-2,260], with an average hydrogen cost of [2.05 yuan/m³]

In south China, the methanol transaction range was [2,380-2,400], with an average hydrogen cost of [1.75 yuan/m³]

In north-west China, the methanol transaction range was [1,765-2,170], with an average hydrogen cost of [1.48 yuan/m³]

In south-west China, the methanol transaction range was [2,140-2,370], with an average hydrogen cost of [1.67 yuan/m³]