Bitumen price in India
Bitumen price in India has a large impact on imports and exports in the world.
Generally speaking, the bitumen price in different countries has a major
rule in the countries’ deals, exports, imports, and the global economy.
As you may know, refineries produce various petrochemical substances such as bitumen,
waxes, paraffin, etc. from oil. Therefore, oil prices and production amounts will determine the other petrochemicals’ prices and production amounts in the world.
Correspondingly, some countries such as India, Iran, Saudi Arabia, and the USA, are dominant in the oil and bitumen production; therefore, they have the ability to affect the oil prices in the global contracts. However, some other items affect the prices, such as the countries’ deals, relations, trade wars, and decisions. According to what we have mentioned above, oil prices and its changes, some predominant countries, and global incidents affect the bitumen prices in India and other countries.
What items can determine the prices?
Needless to mention that the bitumen prices are not fixed. In other words, the bitumen price in India is different from that in other countries.
Here we explain the reasons.
Since bitumen exports and imports are high between countries, some items cause the difference between prices and costs in each deal. To be more specific, the destination country, the country of origin, the exact type of the product, the volume, the packaging type, and the payment terms are all determinative in the final bitumen prices. That’s why we believe that the costs in each part of the world differ from those in the other parts.
India’s oil and gas consumption & price
Let’s discuss the bitumen prices in India briefly. India’s demands for petroleum, oil, VG grades of bitumen, emulsions, and PEN grades were always high. India has always had a high volume of imports from Iran. However, its demands are about to fall due to the global Corona crisis.
Since the government has confined the people’s communications and has suspended schools, educational institutes, restaurants, etc, society’s gas consumption has decreased. This may seem sad, but this situation is dominant in the world. Many countries’ oil and gas consumption, bitumen and petrochemicals’ imports and exports, and constructions have all decreased or have been suspended.
According to what mentioned above, global issues, crises, and matters have a large impact on everything, such as productions, prices, deals, industries, etc. This condition will also make the prediction of future prices difficult. However, on this website, we share our accurate forecasts, analysis, and weekly prices with you.