[SMM Hydrogen Cost Daily Review] 20251027

Published: Oct 28, 2025 17:15

I. Coal-Based Hydrogen Production

The transaction range for Shandong anthracite was [1,640-1,640] yuan, with an average hydrogen cost of [1.55 yuan/m³].

The transaction range for Hebei anthracite was [1,380-1,380] yuan, with an average hydrogen cost of [1.41 yuan/m³].

The transaction range for Shanxi anthracite was [900-900] yuan, with an average hydrogen cost of [0.97 yuan/m³].

The transaction range for Henan anthracite was [940-940] yuan, with an average hydrogen cost of [1.04 yuan/m³].

II. Natural Gas-Based Hydrogen Production

The transaction range for natural gas in eastern Guangdong was [4,190-4,220] yuan, with an average hydrogen cost of [2.03 yuan/m³].

The transaction range for natural gas in Guangxi was [4,170-4,420] yuan, with an average hydrogen cost of [2.05 yuan/m³].

The transaction range for natural gas in Shanxi was [4,490-4,560] yuan, with an average hydrogen cost of [2.15 yuan/m³].

The transaction range for natural gas in Hebei was [4,260-4,615] yuan, with an average hydrogen cost of [2.14 yuan/m³].

The transaction range for natural gas in Shandong was [4,610-4,680] yuan, with an average hydrogen cost of [2.00 yuan/m³].

The transaction range for natural gas in the Pearl River Delta was [4,220-4,220] yuan, with an average hydrogen cost of [1.83 yuan/m³].

The transaction range for natural gas in Hubei was [4,640-4,960] yuan, with an average hydrogen cost of [2.07 yuan/m³].

The transaction range for natural gas in Henan was [4,500-4,690] yuan, with an average hydrogen cost of [1.98 yuan/m³].

The transaction range for natural gas in Guizhou was [4,610-4,880] yuan, with an average hydrogen cost of [2.05 yuan/m³].

The transaction range for natural gas in Sichuan was [4,310-4,780] yuan, with an average hydrogen cost of [1.96 yuan/m³].

The transaction range for natural gas in Zhejiang was [4,350-4,660] yuan, with an average hydrogen cost of [1.95 yuan/m³].

The transaction range for natural gas in Inner Mongolia was [4,110-4,370] yuan, with an average hydrogen cost of [1.84 yuan/m³].

The transaction range for natural gas in Heilongjiang was [4,280-4,540] yuan, with an average hydrogen cost of [1.91 yuan/m³].

III. Propane-Based Hydrogen Production

The transaction range for propane in the northeast was [4,120-4,660] yuan, with an average hydrogen cost of [2.65 yuan/m³].

The transaction range for propane in east China was [4,540-4,620] yuan, with an average hydrogen cost of [2.74 yuan/m³].

The transaction range for propane in Shandong was [4,510-4,780] yuan, with an average hydrogen cost of [2.79 yuan/m³].

The transaction range for propane in the south was [4,570-4,600] yuan, with an average hydrogen cost of [2.74 yuan/m³].

IV. Hydrogen Production from Methanol

In northeast China, the methanol transaction range was [2,420-2,420], and the average hydrogen cost was [2.21 yuan/m³].

In east China, the methanol transaction range was [2,240-2,350], and the average hydrogen cost was [2.13 yuan/m³].

In central China, the methanol transaction range was [2,120-2,370], and the average hydrogen cost was [2.13 yuan/m³].

In north China, the methanol transaction range was [2,100-2,260], and the average hydrogen cost was [2.02 yuan/m³].

In south China, the methanol transaction range was [2,240-2,260], and the average hydrogen cost was [1.66 yuan/m³].

In northwest China, the methanol transaction range was [1,990-2,090], and the average hydrogen cost was [1.53 yuan/m³].

In southwest China, the methanol transaction range was [2,030-2,300], and the average hydrogen cost was [1.61 yuan/m³].

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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