# Fluorochemicals and refrigerants: Trading

How Indian makers price against Chinese refrigerant offers

Source page: https://www.materialinsights.org/chemicals/fluoro_intermediates/trading/

What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

#### Who buys, and where

- China (Zhejiang, Shandong, Jiangxi)
- India (Gujarat: Dahej, Surat, Ranjit Nagar)
- US and EU producers

#### Who sells, and from where

- Air conditioner makers in China, India, Thailand, the Middle East; carmakers; service distributors worldwide

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **China ex-factory R32, R134a, R125, R22 prices** | SunSirs, Baiinfo, industry reports | spot, weekly |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **None** | no futures | Chinese quota rights also trade informally (Faxian Gongchang 2026) |

#### Contract types

- Annual contracts with air conditioner and car makers
- Spot sales to service distributors in cylinders
- Long-term HFO supply and toll contracts with technology owners (e.g. Navin with Honeywell)

#### Traders and distributors

- Refrigerant distributors and reclaimers (e.g. A-Gas, indicative); Chinese exporters

#### How Indian buyers price it

- Domestic prices track China import parity plus duties
- Exports priced in dollars, often under annual contracts
- HFC imports and production will need quotas from 2028 under India's Kigali schedule

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| 2023 | **about RMB 13,000/t** | China R32 ex-factory, low | 36Kr (Jun 2026) |
| 12 Jun 2026 | **RMB 62,500/t (about $8,700/t)** | China R32 ex-factory | 36Kr (Jun 2026) |
| 12 Jun 2026 | **RMB 59,727/t** | China R134a ex-factory | 36Kr (Jun 2026) |
| 2025 | **RMB 12,000-16,000/t** | China anhydrous HF | Faxian Gongchang (2026) |

#### Good sources to follow
[Faxian Gongchang China industry reports](https://faxiangongchang.com/en/reports/china-fluorochemical-2026)freemium research site · Faxian Gongchang

Chinese fluorochemical quotas, prices and capacity
[36Kr Europe](https://eu.36kr.com/en/p/3877039153557506)free newsletter · 36Kr

Chinese industry and refrigerant market news in English
[ICICI Direct research](https://www.icicidirect.com/mailcontent/idirect_navin_q4fy26.pdf)free research site · ICICI Securities

Indian fluorochemical company results
[NRDC experts blog](https://www.nrdc.org/experts/anjali-jaiswal/india-takes-major-step-towards-climate-friendly-refrigerants)free blog · Natural Resources Defense Council

India refrigerant and cooling policy
[Linklaters Sustainable Futures](https://sustainablefutures.linklaters.com/post/102mp62/eu-universal-pfas-restriction-process-enters-its-decisive-phase-seac-draft-opin)free blog · Linklaters

EU PFAS restriction process

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/fluoro_intermediates/index.md)
- [Overview](https://www.materialinsights.org/chemicals/fluoro_intermediates/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/fluoro_intermediates/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/fluoro_intermediates/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/fluoro_intermediates/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/fluoro_intermediates/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/fluoro_intermediates/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/fluoro_intermediates/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/fluoro_intermediates/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/fluoro_intermediates/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/fluoro_intermediates/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/fluoro_intermediates/links/index.md)