13 Mar 2025

13:33

  • Bitumen 60/70

    333$

    +

    -

    3$

    Iran - Bulk

    3.3%

  • Bitumen 60/70

    405$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 60/70

    405$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 60/70

    380$

    +

    -

    3$

    Iran - Jumbo Bag

    2.9%

  • Bitumen 60/70

    371$

    +

    -

    3$

    Iran - Flexitank

    3.0%

  • Bitumen VG10

    397$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen VG30

    397$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen VG40

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen C170

    401$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen C320

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen AH70

    396$

    +

    -

    3$

    Iran - Jumbo Bag

    2.8%

  • Bitumen PG 76-10

    411$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 200/300

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen Oxidized 115/15

    363$

    +

    -

    2$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 105/15

    363$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 85/25

    363$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 95/25

    366$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Emulsion CRS-1

    505$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.2%

  • Bitumen Emulsion K1-60

    539$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.0%

  • Bitumen Emulsion CRS-2

    552$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.0%

  • Bitumen Cutback MC70

    626$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.8%

  • Bitumen Cutback MC30

    636$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.7%

  • Bitumen Cutback MC250

    606$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.8%

  • HSFO CST 180

    439$

    +

    -

    5$

    Iran - Bulk

    -0.5%

  • HSFO CST 380

    436$

    +

    -

    5$

    Iran - Bulk

    0%

  • HSFO CST 180

    460$

    +

    -

    5$

    Singapore - Bulk

    -0.2%

  • HSFO CST 380

    457$

    +

    -

    5$

    Singapore - Bulk

    0%

  • Crude Oil Dubai

    69$

    +

    -

    5$

    United Arab Emirates - Bulk

    1.4%

  • Crude oil WTI

    67$

    +

    -

    5$

    United States - Bulk

    1.5%

  • Crude Oil brent

    72$

    +

    -

    5$

    United Kingdom - Bulk

    0%

Bitumen fluctuations in Different Areas

Shirin Yousefi

Publish Date: 2022/07/31

Share Report
Bitumen fluctuations in Different Areas

Price Fall in India

In the last week, there have been no particularly fundamental incidents in the international arena, the effects of which could have serious repercussions on the economic trend of the market. The only noteworthy point is the ongoing war between Russia and Ukraine after 155 days. Attacks on Ukraine’s western fronts continue. On the other hand, Europe has raised interest rates by around 0.5% in the last week after 11 years. The reason for this increase lies in the fact of inflation of 8.6% in Europe in 2022.

The price of oil has fluctuated less than in previous weeks. Brent crude has fluctuated in the USD 102-108 range. The reason for this increase was Russia’s threat to Europe to stop shipping its gas there. At the time of writing, it was trading at the USD 108 level. The current potential threat to the international market is the massive COVID-19 outbreak in several countries. However, with proper vaccination, fewer mortality rates are expected. In our report last week, our team mentioned that despite the fact that there was a recession in the various regions, vb prices may have fallen by up to 16%, causing some momentum in the market. Although some markets like India were worried about lower bitumen prices by their local refiners, they had been buying more compared to previous weeks, which may be a sign of the mentioned momentum. The market is waiting for the next announcement from India on August 1 regarding its bitumen price and the amount of its reduction which should be around US$20-25.

What Lies Ahead?

Previous estimates called for further declines tempered by strengthening crude prices. Knowing that last week and after a 16% drop in bitumen price in Iran, when packaged bitumen prices reached below $400 FOB Bandar Abbas after 6 months, it seems that bitumen prices are falling after India and if there will be no particular fundamental event in the market, there will be an appropriate pull in the market depending on the prices available. On July 27, Singapore’s bulk bitumen was at US$553-557, roughly US$10 growth, and Korea’s 60/80 bulk bitumen was at US$498-502, stable. Due to falling bitumen prices in Iran, its rates were attractive to other markets, so they are looking for an arbitrage opportunity and trying to buy from Iran instead of Singapore.

Given the downward trend in exports in recent months, transportation costs are falling accordingly and it may be another effective factor in market dynamics besides the falling bitumen price. It must be admitted, however, that the market has not yet found its attractive shape and the demand is much lower than expected.

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