The price of R134a in China rose by more than 67% in September, rising to as much as CNY45,000/ton (≈US$7,000).

According to the Business Club, the prices were boosted by rising prices of raw materials, particularly hydrofluoric acid and trichloroethylene.

Some refrigerant companies are also said to have carried out overhauls of production equipment and, in some cases, stopped production in August. This, combined with electricity restrictions in many places, has further impacted prices.

The figures are based on the China Producer Price Index (PPI) which measures the average change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.