Bitumen Prices in Africa Steady on Supply and Seasonal Drivers
In early November, African bitumen markets exhibited regionally differentiated dynamics driven by seasonal demand, supply flows, and crude oil-linked pricing.
West African flows experienced downward pressure, largely reflecting softening HSFO benchmarks. Despite this, Nigerian domestic factory prices held steady near 862-870$ per ton, as recent heavy rainfall temporarily curtailed paving activity. Port throughput increased markedly, with 53,000 tons discharged in October—up from 9,000 tons in September—primarily sourced from Turkey and Greece, and concentrated on Togo, Nigeria, and Senegal. Market analysts anticipate that demand will strengthen with the onset of the dry season, facilitating accelerated road construction projects.
East African import values edged upward due to firming supply from Middle Eastern origins. Drummed bitumen shipments were assessed at approximately $473–483 per ton CFR Dar es Salaam and $458–468 per ton CFR Mombasa, reflecting both the cost of Middle East exports and logistical premiums. Trade remains influenced by regulatory compliance, sanctions, and seasonal rainfall, which temporarily reduces construction throughput. Market expectations suggest that demand will normalize as drier conditions emerge later in the month.
In South Africa, local factory prices stabilized in the range of R11,700–12,000 per ton, with limited under-the-gantry trades observed around R11,200 per ton. Strong import volumes—up to eight shipments scheduled in November, originating from Pakistan and Togo—have maintained ample supply, offsetting seasonal construction slowdowns. With domestic refinery output halted since September, imports now constitute the primary supply channel.
Altogether, bitumen pricing across Africa, is projected to remain stable to moderately firm over the near term. West African demand is expected to rise as weather conditions improve; East African markets will sustain steady imports, supported by higher Middle Eastern export valuations; and South Africa’s competitive, well-supplied market is likely to prevent significant price escalation through year-end.
