Summary: Recently, prices of fluorinated refrigerants R22 (ODS) and R142b (ODS+raw material grade) have been rising, albeit with slightly different drivers. R22 saw a modest increase of 1,000 yuan/ton (+5.00%) during the week, while R142b increased by 5,000 yuan/ton (+16.67%). The fluorinated refrigerant market has evolved from a cyclical commodity to a long-term product with "scarcity premium". Leading companies leverage quota barriers to secure long-term high profitability, and the medium- to long-term demand for fluorinated refrigerants looks positive.

Recently, the price of fluorinated refrigerant R22 (ODS) has continued to rise. As of April 24, the market price of this product in East China reached 21,000 yuan/ton, up 1,000 yuan/ton week-on-week. It has become the most notable high-quality product in April 2026, being the only fluorinated refrigerant in April to achieve a steady and solid price increase, with a cumulative monthly gain of 20.00%. The rationale for this price hike is twofold. First, it's a delayed reflection of pre-New Year low-price destocking activities. A long period of low operating rates led to a tight, "transfusion-like" supply of spot resources. As the traditional peak season arrived, restocking demand rebounded, supply-demand imbalance accelerated long-position trading in the market, and actual transaction prices rose steadily in increments of 500 yuan/ton. Second, the steep decline of R22 in H2 2025, combined with top factories' quota consumption falling far short of expectations, prompted factories—driven by the need to meet quota utilization rates and respond to future reduction policies—to maintain cautious, high inventory levels and conduct low-price "dumping" near cost. This allowed primary agents and broad-threshold distributors to stockpile large quantities, ultimately enabling factories to achieve both their quota targets and low inventory while ensuring that the fluorinated refrigerant segment still posted year-over-year revenue leaps with narrow profit margins. Given this historical context, suppliers' shipments in the peak season represent merely a low-base recovery. Furthermore, due to the historical R22 price crash and the gradual tightening of the terminal market, its price increase logic leans towards a cautious, step-by-step approach to ensure "impactful" gains.

In contrast, the price increase of R142b (ODS+raw material grade) stems from two factors. First, R142b (ODS) is primarily driven by low industry quotas. By Q2, small factories' quotas are nearly exhausted, prompting the major Zhejiang-based manufacturer, Ekosheng, to raise its offer prices amidst concentrated downstream demand orders. Second, both R142b (raw material grade) and R152a (raw material grade) are burdened by the high cost of anhydrous hydrofluoric acid. Downstream PVDF production has been running at full capacity across the industry since the Chinese New Year, with order demand significantly higher than before the holiday. Supply and demand factors jointly support the price increase in the raw material grade market.

The R22 market offers firm quotations, with the main market center of gravity edging higher. For the April contract pricing of anhydrous hydrofluoric acid, the national mainstream market price reference is 13,500-13,700 yuan/ton delivered, an increase of 1,500 yuan/ton. The weekly average price of chloroform declined. With R22 market prices rising, the theoretical weekly average profit trend is upward, up 30.86% week-on-week. The average weekly price of liquid chlorine fell 2.28%. R152a traded sideways during the week. Overall, the weekly average profit trend for R142b is upward, up 1.51% week-on-week.