Bitumen Market Weekly Overview: Shifts, Weather Pressures, and Regional Divergence
Over the past week, the bitumen market experienced relatively stable conditions, as Brent crude prices hovered within a narrow range in the high $60s. This stability contributed to subdued market dynamics overall, with minimal price fluctuations and a slight decline toward the end of the week that did not trigger significant ripple effects in related sectors.
In Southeast Asia, tight supply conditions in Singapore pushed bitumen prices upward to the $430–$440 per ton range. Nevertheless, this increase somewhat dampened buyer enthusiasm. Similarly, South Korea experienced a slight price uptick following a late tender that stimulated export activity.
Looking at China, import demand remained muted; however, domestic producers helped bridge supply gaps in Southeast Asia, compensating for the reduced output in Singapore. Within China, regional price movements varied: Shandong province saw a $14 per ton decline due to heavy rainfall and excess inventories, whereas eastern provinces recorded modest gains of $3 to $6 per ton amid tighter availability. Southern markets, meanwhile, remained largely stable.
Having the same tune across Africa, Western markets observed a $6 per ton rise in import costs, driven by stronger Mediterranean HSFO prices. Eastern Africa remained active, particularly in Kenya and Uganda, although price trends diverged — bulk import values declined while drummed bitumen maintained steadier pricing.
On the other side, in the Middle East, operational challenges intensified due to severe heatwaves, water shortages, and intermittent power outages, which collectively strained production capacities. Consequently, several market participants withdrew temporarily, notably impacting the flow of large bagged bitumen shipments. These shipments faced increased risks of spoilage under such extreme conditions. Bulk exports from the region were notably affected, with prices falling between $311 and $322 per ton—a nearly $6 drop compared to previous levels—reflecting a softening demand from South Asian buyers. In contrast, drummed bitumen cargoes saw a modest price increase, trading within the $385 to $394 per ton range.
Meanwhile, in Bahrain, bitumen prices at FOB Sitra remained steady at $400 per ton, with overall trade activity staying flat. Although Iraq did not finalize any new deals during the week, it continued to attract interest for its drummed bitumen products.
At last, shifting focus to India, ongoing monsoon rains continued to suppress consumption patterns. The persistent wet weather weighed heavily on domestic demand, leading to softer local prices as well as diminished appetite for imported bitumen.
