R134a — Refrigerant Prices Breach 61,000 RMB/Ton as Kigali Phase-Out Tightens Supply Across All HFCs

The refrigerant market has entered uncharted territory in 2026, with R134a emerging as the leader of a broad-based HFC price rally that shows no signs of easing. As of June 2026, R134a quotes have surged past 61,000 RMB per ton—a level unimaginable just 18 months ago—driven by the strict enforcement of production quotas under the final year of the HFC baseline period under the Kigali Amendment to the Montreal ProtoCol. The supply shock extends across the entire HFC spectrum. R32 has climbed to approximately 65,000 RMB per ton, while R125, a critical blending component for R410A and other mixed refrigerants, has approached the 60,000 RMB threshold. R410A, widely used in variable refrigerant flow (VRF) systems and residential heat pumps, and R404A, the standard for low-temperature and commercial refrigeration, have both advanced into the 52,500–59,500 RMB per ton range. The fundamental driver is the quota system. According to market analysis, 2026 serves as the baseline year for HFC production and consumption levels under the Kigali Amendment, which means total production volumes are frozen—there is almost no supply-side flexibility to respond to rising demand. This supply rigidity has created what analysts describe as a “scarcity premium,” particularly acute as the northern hemisphere enters peak air conditioning season and automotive service centers prepare for summer refrigerant refills. R134a remains the dominant refrigerant for automotive air conditioning systems and medium-temperature commercial refrigeration applications. The surge in R134a prices has direct implications for vehicle owners—the cost of recharging an automotive AC system is now nearly double what it was two years ago. The broader HFC phase-down reflects the Kigali Amendment target of reducing developed-country HFC consumption to 10 percent of baseline levels by 2036, with developing countries following a delayed but binding schedule. End users searching for “R134a refrigerant price per kg” or “HFC-134a bulk gas supplier” face a market where long-term contracts have given way to short-term negotiations at historically high levels.

Sources: HVACR.cn Refrigerant Market Analysis, May 2026; China Refrigeration News, June 2026; 100ppi Price Tracking, June 2026