Bitumen Price
Bitumen Price August, 2022
Bitumen price on August 2022
The tension between Taiwan and China and the approach of the cold season in Europe are likely to increase the price of fuel carriers.
Therefore, it is not far from expected that the price of bitumen will rise due to this chaotic market as well as the political developments in the Middle East, East Asia and Eastern Europe.
In July, bitumen paste in the market of Taiwan, Singapore, and South Korea did not decrease much, instead, in the Middle East, especially in Iran, the price of bitumen decreased due to the nuclear negotiations and the high price of the dollar.
But due to the fact that we have entered the month of August and there has been no change in the prices of bitumen in East Asia, it is likely that the prices of bitumen in the Middle East, especially in Iran, will rise from tomorrow, August 9.
Bitumen Drum price expecting to reach 410$/MT minimum to 430$/MT and jumbo bag 395$/MT to 400 again.
These price are temporary and depend on competition of exporter it may increase up to 20% as well.
Bitumen Prices are affected by market demand and seasonal peak consumption.
The fluctuation of bitumen price is also due to issues such as:
Geopolitical tensions.
Shipping regulations.
Rising Oil price.
Economic condition of the world.
Road construction projects in different countries.
The cost of shipping and containers.
The high season.
Also, If you need other bitumen prices such as Bitumen VG 30 or VG 10 price or cutback bitumen price or emulsion bitumen price or PG grade Bitumen price or oxidized bitumen price please contact us for the latest bitumen price. We will try our best to satisfy our customers regarding the quality and price as well as delivery time.
We as the experienced and well-known Bitumen Supplier in the Middle East can operate and deliver any types of Bitumen with the best Bitumen Price and different types of Bitumen Packing and other Petrochemical products based on FOB, CFR, CPT, EXW, and CIF terms. As our commitment, we provide all necessary export documents required by International Banks and customs at the Discharge Port.
The continued rally in crude values helped to lift bitumen prices across much of Europe and Asia-Pacific, while tight supply and firmer demand also helped to boost the market.
Domestic and cross-border truck export prices rose sharply in key northwest and central European markets, driven by the recent surge in crude and fuel oil prices, as well as by tighter refinery supply.
Construction activity was still slow in many markets in northern and central Europe, but rates of project work were steadily rising after the winter lull. In the Mediterranean Greek and Spanish cargo premiums to high-sulphur fuel oil (HSFO) were assessed slightly higher, while Italian values remained steady. In domestic markets, outright prices jumped, supported by rallying crude and HSFO.
Despite global trends of oil price which has experienced a sharp decrease in the early hours of today, vacuum bottom price has reached the highest price of its history to almost ( approximately 380 $) which leads to higher bitumen price.
Although the US dollar exchange rate has gone up during the last week, the effect of VB’s rising price will impact the final price of bitumen.
Hence, it seems we will witness higher prices in the following days. Unless Bandar Abbas’s refinery increases VB production after the overhaul operations that due to the new rules of the domestic market (bartering bitumen) seems unlikely.
All in all, this situation has made it too difficult to make new deals in different shapes including bulk, drum, or jumbo bags with other countries except India these days.
The continued rally in crude values helped to lift bitumen prices across much of Europe and Asia-Pacific, while tight supply and firmer demand also helped to boost the market.
Domestic and cross-border truck export prices rose sharply in key northwest and central European markets, driven by the recent surge in crude and fuel oil prices, as well as by tighter refinery supply.
Construction activity was still slow in many markets in northern and central Europe, but rates of project work were steadily rising after the winter lull.
In the Mediterranean Greek and Spanish cargo premiums to high-sulphur fuel oil (HSFO) were assessed slightly higher, while Italian values remained steady. In domestic markets, outright prices jumped, supported by rallying crude and HSFO.
The Asia-Pacific bitumen market continued to be sup- ported by limited availability. Prices in Singapore touched the highest in 20 months, with discussions last seen above $420/t fob levels in August, 2022.
Production cuts and reduced supply from key Singapore and Malaysia-based producers, coupled with ongoing turnarounds in South Korea continued to reduce supply and support bitumen prices.
South Africa domestic prices jumped, after monthly revi- sions, taking export prices to southern African markets up in parallel with them.
Asia – Pacific And Middle east Market Commentary
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