Refrigerant Gas Price Report for New Year Start 2026

While market sentiment varies in the refrigerant market, channel sales remain flexible, and the overall trend remains stable with a slight upward movement. 

Recently, as automakers and air conditioning companies have finalized long-term contract prices, the transaction prices of several refrigerant varieties have risen accordingly. Currently, channels are mainly focused on stockpiling to meet immediate needs, and inventory has fallen to a near two-year low. 

On the supply side, the quota system and the highly concentrated market share have further solidified market confidence. Specifically, R125 is leading the market rise, with companies actively reducing surplus quotas and controlling supply, pushing prices up to approximately 51,000 yuan/ton, and transactions gradually following suit. 

Downstream products such as R404 and R507 have seen increased inquiries, leading to price increases. 

R410a, driven by the R125 price increase, saw its long-term contract price increase expand to 55,100 yuan/ton in the first quarter. 

R134a spot market transactions reached approximately 56,000 yuan/ton (up 1,000 yuan/ton), with some automakers' long-term contract prices already... Prices have broken through 62,000 yuan/ton, with high prices anchoring market expectations, and the market is expected to open high and continue to rise in 2026. 

The latest long-term contract price for R32 is 61,200 yuan/ton, widening the price gap between the distribution market and air conditioning long-term contracts, and is expected to continue to improve in the second quarter. 

The price of second-generation refrigerant R22 remains around 17,000 yuan/ton, with significant higher activity in the small-package market compared to bulk sales. Companies continue to control bulk sales orders, while export prices have been slightly reduced by 1,000-2,000 yuan/ton. 

Overall, with the subsequent recovery in demand, the current low inventory level is expected to further drive transaction fulfillment and a steady price increase, with most companies adopting a strategy of ensuring supply and slowing price increases.