East Asia Bitumen Market Faces Weather and Trade Flows Shifts
Bitumen markets across East Asia showed uneven performance during late July and early August 2025, as weather conditions, regional price arbitrage, and shifting trade flows shaped demand and pricing trends. Market sentiment varied widely between producing and consuming countries, with buyers remaining cautious despite selective opportunities.
China continued to weigh on regional demand. Persistent rainfall across southern and central provinces disrupted road construction activity, leading to weaker consumption. Although northern China recorded relatively firmer demand, overall domestic prices softened. In Shandong, values edged lower to roughly 3,550–3,970 yuan per ton, while east and south China also saw mild declines amid slower project execution and reduced bitumen output. Competitive domestic pricing limited import appetite, keeping inbound volumes to east China minimal, with import levels hovering near $440–445 per ton CFR.
South Korea experienced a downward price adjustment following the conclusion of a major tender, with FOB values falling to around $410–415 per ton. Despite the price decline, export performance strengthened during the first half of 2025, driven by increased shipments to Southeast Asia, Japan, and Australia. Traders capitalized on regional price spreads, particularly as Singapore export prices remained about $20 per ton higher than South Korean FOB levels. However, demand from east China remained subdued due to favorable local pricing.
Vietnam presented mixed signals across regions. By late August, buyers in both the south and north showed renewed interest in Singapore-origin cargoes, with CFR prices to southern Vietnam assessed around $470–480 per ton and freight costs near $40 per ton. Nevertheless, northern Vietnamese buyers remained price-sensitive, with some turning to South China as a lower-cost alternative. Overall demand in the north stayed cautious, and offers for September shipments from South Korea and Taiwan attracted limited attention.
An alternative supply source gained traction as Middle East-origin cargoes drew interest in northern Vietnam. Priced more competitively at approximately $440–450 per ton CFR Haiphong, these cargoes offered buyers a lower-cost option compared with Asian-origin material.
Taiwan’s bitumen market remained quiet, marked by restrained trading activity and wide bid-offer gaps. While there was steady interest from northern Vietnam for August and September shipments, available August volumes were limited. Indicative deals suggested FOB prices near $430–435 per ton, though strong competition from other Asian suppliers and buyer resistance capped trading momentum.
