Bitumen prices in Southeast Asia remained stable, with limited January offers. Demand varied by country, influenced by seasonal conditions, holidays, reduced budgets, and shifting government priorities. Prices stayed around $ 425-430 per ton in this region.
Stable Prices in Singapore
Bitumen prices remained stable this week. One refinery almost sold out most bitumen volumes; however, offers for January were limited. Bitumen offers for January and February were preserved at $ 430 per ton.
Monsoon in Malaysia Slows Demand
Most road construction and maintenance projects in Malaysia were completed before the holidays, so the bitumen demand was low. Paving work was inappropriate in the frequent wet weather of the monsoon season.
Reduced Activity in Indonesia
Demand is expected to be lower during January-March 2025. Only a few road projects were completed during the last season of 2024, which must be assigned to the first season of 2025. Lower construction in Indonesia resulted from reducing government funds in 2024. Changes in funding amounts are possible after the inauguration of about 500 provincial mayors, governors, and regents in February.
Gloomy Thailand with Steady Prices
Demand was almost steady, and refiners continued to reduce prices or produce fuel oil instead of bitumen because of the low regional demand. Thailand bitumen prices for January were mainly around $ 425-430 or lower per ton. The demand for the first month of 2025 is gloomy, and prices are expected to remain the same from 2024 because of the unchanged budget for road construction in 2025.
Stronger Imports in Vietnam Before Tet
Most contractors in Vietnam tried to complete their projects before the Tet holidays, so import demand for January cargoes was stronger. Market activists forecasted that consumption in South Vietnam would continue to improve while demand in the northern region remained firm.
As we approach 2025, now is the time to prepare. Connect with our team for expert advice on timing your bitumen purchases and stay ahead of market trends to ensure a successful coming year.
Bitumen Price In Southeast Asia (Updated on December 30, 2024)
