[SMM Hydrogen Cost] 20260520

Published: May 20, 2026 10:17

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I. Coal-to-Hydrogen

Shandong anthracite transaction range [1,680-1,680], average hydrogen cost [1.66 yuan/m³]

Shanxi anthracite transaction range [910-910], average hydrogen cost [1.13 yuan/m³]

Hebei anthracite transaction range [1,390-1,390], average hydrogen cost [1.52 yuan/m³]

Henan anthracite transaction range [980-980], average hydrogen cost [1.16 yuan/m³]

II. Natural Gas-to-Hydrogen

Pearl River Delta natural gas transaction range [6,600-6,620], average hydrogen cost [3.04 yuan/m³]

Zhejiang natural gas transaction range [6,450-6,740], average hydrogen cost [3.01 yuan/m³]

Guangxi natural gas transaction range [6,560-6,910], average hydrogen cost [3.04 yuan/m³]

Eastern Guangdong natural gas transaction range [6,600-6,620], average hydrogen cost [3.01 yuan/m³]

Henan natural gas transaction range [6,180-6,420], average hydrogen cost [2.92 yuan/m³]

Hebei natural gas transaction range [6,202-6,600], average hydrogen cost [2.94 yuan/m³]

Hubei natural gas transaction range [6,500-6,740], average hydrogen cost [3.04 yuan/m³]

Guizhou natural gas transaction range [6,290-6,610], average hydrogen cost [2.96 yuan/m³]

Sichuan natural gas transaction range [6,315-6,580], average hydrogen cost [2.98 yuan/m³]

Shanxi natural gas transaction range [6,070-6,250], average hydrogen cost [2.82 yuan/m³]

Shandong natural gas transaction range [6,310-6,770], average hydrogen cost [3.01 yuan/m³]

Heilongjiang natural gas transaction range [6,170-6,440], average hydrogen cost [2.89 yuan/m³]

Inner Mongolia natural gas transaction range [6,170-6,400], average hydrogen cost [2.83 yuan/m³]

III. Propane-to-Hydrogen

South China propylene oxide transaction range [7,140-7,250], average hydrogen cost [4.04 yuan/m³]

East China propylene oxide transaction range [7,630-7,840], average hydrogen cost [4.31 yuan/m³]

Northeast China propylene oxide transaction range [6,850-7,340], average hydrogen cost [3.99 yuan/m³]

Shandong propylene oxide transaction range [7,460-7,800], average hydrogen cost [4.28 yuan/m³]

IV. Methanol-to-Hydrogen

East China methanol transaction range [2,950-3,265], average hydrogen cost [2.65 yuan/m³]

Central China methanol transaction range [2,840-3,070], average hydrogen cost [2.59 yuan/m³]

North China methanol transaction range [2,740-2,890], average hydrogen cost [2.43 yuan/m³]

South China methanol transaction range [3,280-3,340], average hydrogen cost [2.77 yuan/m³]

Northwest China methanol transaction range [2,210-2,910], average hydrogen cost [2.25 yuan/m³]

Southwest China methanol transaction range [2,750-3,090], average hydrogen cost [2.57 yuan/m³]

Northeast China methanol transaction range [3,110-3,130], average hydrogen cost [2.65 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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