[SMM Hydrogen Cost Daily Review] 20251202

Published: Dec 3, 2025 09:13

I. Hydrogen Production from Coal

The transaction range for coke in Shandong was [1,720-1,720], with the average hydrogen cost at [1.6 yuan/m³].

The transaction range for coke in Hebei was [1,400-1,400], with the average hydrogen cost at [1.4 yuan/m³].

The transaction range for coke in Shanxi was [920-920], with the average hydrogen cost at [0.97 yuan/m³].

The transaction range for coke in Henan was [1,020-1,020], with the average hydrogen cost at [1.08 yuan/m³].

II. Hydrogen Production from Natural Gas

The transaction range for natural gas in eastern Guangdong was [4,330-4,340], with the average hydrogen cost at [2.08 yuan/m³].

The transaction range for natural gas in Guangxi was [4,200-4,510], with the average hydrogen cost at [2.07 yuan/m³].

The transaction range for natural gas in Shanxi was [4,020-4,240], with the average hydrogen cost at [1.99 yuan/m³].

The transaction range for natural gas in Hebei was [4,220-4,460], with the average hydrogen cost at [2.1 yuan/m³].

The transaction range for natural gas in Shandong was [4,430-4,670], with the average hydrogen cost at [1.97 yuan/m³].

The transaction range for natural gas in the Pearl River Delta was [4,340-4,370], with the average hydrogen cost at [1.89 yuan/m³].

The transaction range for natural gas in Hubei was [4,270-4,460], with the average hydrogen cost at [1.89 yuan/m³].

The transaction range for natural gas in Henan was [4,220-4,320], with the average hydrogen cost at [1.85 yuan/m³].

The transaction range for natural gas in Guizhou was [4,260-4,500], with the average hydrogen cost at [1.9 yuan/m³].

The transaction range for natural gas in Sichuan was [4,020-4,360], with the average hydrogen cost at [1.83 yuan/m³].

The transaction range for natural gas in Zhejiang was [4,350-4,740], with the average hydrogen cost at [1.96 yuan/m³].

The transaction range for natural gas in Inner Mongolia was [4,430-4,300], with the average hydrogen cost at [1.81 yuan/m³].

The transaction range for natural gas in Heilongjiang was [4,340-4,570], with the average hydrogen cost at [1.94 yuan/m³].

III. Hydrogen Production from Propane

The transaction range for propylene oxide in northeast China was [3,950-4,510], with the average hydrogen cost at [2.57 yuan/m³].

The transaction range for propylene oxide in east China was [4,500-4,600], with the average hydrogen cost at [2.73 yuan/m³].

The transaction range for propylene oxide in Shandong was [4,560-4,810], with the average hydrogen cost at [2.81 yuan/m³].

The transaction range for propylene oxide in south China was [4,770-4,810], with the average hydrogen cost at [2.84 yuan/m³].

IV. Hydrogen Production from Methanol

In Northeast China, the methanol transaction range was [2,420-2,440] yuan, with an average hydrogen cost of [2.21 yuan/m³].

In East China, the methanol transaction range was [2,140-2,340] yuan, with an average hydrogen cost of [2.1 yuan/m³].

In Central China, the methanol transaction range was [2,140-2,270] yuan, with an average hydrogen cost of [2.11 yuan/m³].

In North China, the methanol transaction range was [2,050-2,140] yuan, with an average hydrogen cost of [1.97 yuan/m³].

In South China, the methanol transaction range was [2,120-2,140] yuan, with an average hydrogen cost of [1.59 yuan/m³].

In Northwest China, the methanol transaction range was [1,550-2,080] yuan, with an average hydrogen cost of [1.38 yuan/m³].

In Southwest China, the methanol transaction range was [1,870-2,180] yuan, with an average hydrogen cost of [1.52 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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