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 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
their 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 differs 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.
As the ultimate point, India has generally acted as both the bitumen buyer
and bitumen supplier recently. However, we can consider this country
as the forerunner in this market. That is the reason the news of India is
also important and affects the market notably.
According to what we 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.