[SMM Hydrogen Cost] 20260324

Published: Mar 25, 2026 09:17

I. Coal-to-Hydrogen

Shandong anthracite transaction range [1,680-1,680], with an average hydrogen cost of [1.61 yuan/m³]

Shanxi anthracite transaction range [910-910], with an average hydrogen cost of [1.05 yuan/m³]

Hebei anthracite transaction range [1,390-1,390], with an average hydrogen cost of [1.39 yuan/m³]

Henan anthracite transaction range [980-980], with an average hydrogen cost of [1.06 yuan/m³]

II. Natural Gas-to-Hydrogen

Pearl River Delta natural gas transaction range [5,520-5,620], with an average hydrogen cost of [2.62 yuan/m³]

Zhejiang natural gas transaction range [5,500-5,850], with an average hydrogen cost of [2.63 yuan/m³]

Guangxi natural gas transaction range [5,180-5,610], with an average hydrogen cost of [2.5 yuan/m³]

Eastern Guangdong natural gas transaction range [5,500-5,590], with an average hydrogen cost of [2.58 yuan/m³]

Henan natural gas transaction range [4,720-4,890], with an average hydrogen cost of [2.31 yuan/m³]

Hebei natural gas transaction range [4,720-5,080], with an average hydrogen cost of [2.33 yuan/m³]

Hubei natural gas transaction range [4,980-5,350], with an average hydrogen cost of [2.44 yuan/m³]

Guizhou natural gas transaction range [4,990-5,720], with an average hydrogen cost of [2.51 yuan/m³]

Sichuan natural gas transaction range [4,825-5,125], with an average hydrogen cost of [2.38 yuan/m³]

Shanxi natural gas transaction range [4,520-4,880], with an average hydrogen cost of [2.22 yuan/m³]

Shandong natural gas transaction range [5,040-5,250], with an average hydrogen cost of [2.44 yuan/m³]

Heilongjiang natural gas transaction range [4,810-5,060], with an average hydrogen cost of [2.34 yuan/m³]

Inner Mongolia natural gas transaction range [4,560-4,800], with an average hydrogen cost of [2.18 yuan/m³]

III. Propane-to-Hydrogen

South China propylene oxide transaction range [7,280-7,370], with an average hydrogen cost of [4.11 yuan/m³]

East China propylene oxide transaction range [7,100-7,310], with an average hydrogen cost of [4.05 yuan/m³]

Northeast China propylene oxide transaction range [5,890-6,310], with an average hydrogen cost of [3.5 yuan/m³]

Shandong propylene oxide transaction range [6,960-7,300], with an average hydrogen cost of [4.03 yuan/m³]

IV. Hydrogen Production from Methanol

The methanol transaction range in east China was [2,800-3,290], and the average hydrogen cost was [2.61 yuan/m³].

The methanol transaction range in central China was [2,780-2,990], and the average hydrogen cost was [2.54 yuan/m³].

The methanol transaction range in north China was [2,360-2,830], and the average hydrogen cost was [2.29 yuan/m³].

The methanol transaction range in south China was [3,310-3,390], and the average hydrogen cost was [2.8 yuan/m³].

The methanol transaction range in northwest China was [1,630-2,630], and the average hydrogen cost was [1.97 yuan/m³].

The methanol transaction range in southwest China was [2,770-3,020], and the average hydrogen cost was [2.55 yuan/m³].

The methanol transaction range in northeast China was [2,770-2,790], and the average hydrogen cost was [2.44 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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