13 Mar 2025

05:32

  • 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 Price List 2019

Bitumen Price List 2019 ($/MT)
Iran Vs. Singapore (Bulk)
Month Iran Singapore
January 340-360 530-540
February 290-320 505-515
March 310-330 505-515
April 320-340 530-540
May 315-335 550-560
June 300-320 550-560
July 290-315 555-565
August 350-370 550-560
September 310-330 550-560
October 350-370 530-540
November 305-325 580-590
December 275-305 535-545

A Brief Analysis of Bitumen New Steel Drum Prices in 2019


Iran’s highest bitumen price in 2019 was $370 in August and October, and the lowest price was $275 in December. In October 2019, Iran’s new steel drum bitumen price started to decrease slightly. Singapore FOB’s highest price in 2019 was $590 in November, and the lowest bitumen FOB price was $505 in February.

Bulk Bitumen Price 2019

Bitumen Price List 2019 ($/MT)
January to June 2019
Country January February March April May June
Iran 300-320 240-270 272-295 270-290 270-290 260-280
Bahrain 385 350 370 392 390 395
Thailand 320-330 325-335 365-375 410-420 410-420 400-410
Singapore 330-340 335-345 375-385 415-425 420-430 410-420
Japan 355-365 345-355 375-385 415-425 425-435 415-425
Taiwan 325-330 335-345 370-385 405-415 415-425 405-415
South Korea 320-330 340-350 375-385 405-415 415-425 400-410
Bitumen Price List 2019 ($/MT)
July to December 2019
Country July August September October November December
Iran 260-280 290-310 260-280 300-320 260-280 220-240
Bahrain 365 390 360 340 320 295
Thailand 360-370 395-405 385-395 392-415 385-395 340-350
Singapore 365-375 395-405 390-405 405-410 400-410 350-360
Japan 380-390 400-410 395-400 400-415 390-400 375-385
Taiwan 360-370 390-400 380-395 390-400 385-395 340-350
South Korea 355-365 375-385 370-380 375-380 375-385 325-335

A Brief Analysis of Bulk Bitumen Prices in 2019

The lowest bulk bitumen price for Iran was $220-240 in December 2019, and the highest was $300-320 in October 2019. As shown above, from March to July, Iran’s bulk bitumen prices were stable, but from July to the end of the year, prices rose and fell several times.

14 Important Factors Affecting Bitumen Price List 2019

1) Using IMO Convention


The start of using IMO convention 2020 at the end of 2019 and the substitution of crude oil and high-sulfur fuel oil (HSFO) in the bitumen price formula resulted in a fluctuation in the bitumen price list for 2019.

2) North Korea-US Nuclear Talks Stall

The meeting between Donald Trump and Kim Jung Un didn’t produce much progress. On June 30, Trump and Kim agreed to resume nuclear negotiations. They agreed on the specifics of the talks, but hours after striking that agreement, North Korea launched a ballistic missile in violation of UN resolutions. Negotiators met on October 5, but the talks ended after 8 hours with no agreement. The prospects for 2020 aren’t any better.

3) The US-China Trade War Continues

Back in March 2018, President Donald Trump tweeted that “trade wars are good and easy to win.” In February, Trump delayed imposing a new round of taxes on Chinese goods to give negotiators time to strike a deal.



In May, he concluded that the talks hadn’t progressed and imposed a new round of charges. In August, however, Trump announced he would place tariffs on $300 billion worth of Chinese goods effective September 1. Twelve days later, he partially reversed the course.

China wasn’t mollified; on August 23, it announced tariffs on $75 billion worth of US goods. Negotiators continued to meet, and on October 11, they reached a tentative agreement on a “Phase 1” deal. It took another two months, though, before the details were worked out. Both sides claimed victory. However, the agreement failed to settle the significant differences between the two economic superpowers, suggesting that 2020 could be hard on the trade front.

4) Tensions in the Persian Gulf

War in the Persian Gulf seemed imminent at several points in 2019. In May, four commercial ships were attacked while anchored just outside the Strait of Hormuz, through which about a fifth of the world’s oil passes. The United States accused Iran of being “directly responsible” for the attacks, a charge Iran denied. Consequently, tensions in the following months between Iran and the US deeply affected the oil and fuel prices and bitumen price list in 2019.

5) The Amazon Burns

The 80,000 fires set in 2019 were the most in a decade, and they burned an area about the size of New Jersey. The year ended with scientists warning that deforestation in the Amazon had reached a point that would “release billions of tons carbon into the atmosphere.”

6) OPEC Cuts Production to Prop Up Oil Price

OPEC continued to respond to swelling US shale oil production by reducing its production.

7) US Oil Production Sets a New Record of 12.8 Million BPD

This event impacts the rest of the world’s oil markets. We would be living in a very different world today if not for the massive increase in US oil production over the past decade. The new record was 1.2 million BPD higher than last year’s record, and it pushed the US to net exporter status for crude oil exports and finished products for the month of October.

8) Damaged Commercial Ships Near the Port of Fujairah in the Gulf of Oman

The United Arab Emirates (UAE) claimed the incident was a destructive attack. On May 13, the US embassy in Baghdad said US citizens should not travel to Iraq and for those who were already there to keep a low profile. On the same day, The New York Times reported that the Acting US Defense Secretary presented a military plan to send as many as 120,000 troops to the Middle East if any country attacked American forces or took steps toward developing nuclear weapons. US President Donald Trump later discredited this, saying he would instead “send a hell of a lot more” than 120,000 troops if necessary.

9) Warning of Oil Prices Pushing above $100 a Barrel

On June 13, 2019, two oil tankers caught fire after allegedly being attacked by limpet mines or flying objects in another incident in the Gulf of Oman. On June 17, the US announced the deployment of 1,000 more soldiers to the Middle East. All three incidents had a large impact on the bitumen price list for 2019.

10) Sanctions and Iranian Shoot Down of US Drone

Tensions reached a new high when, on June 20, Iran shot down a US drone, saying the drone had violated Iranian airspace. Iran called the shoot-down a “clear message” to the US while also pointing out that Iran was not seeking war.

11) British and Iranian Tanker Seizures

On July 3, Gibraltar enacted “Sanctions Regulations 2019” after the March 2019 Sanctions Act, referring to the EU sanctions for Syria. It also specified the Panama-flagged Iranian tanker Grace 1 as a ship under those regulations. On July 4, the ship was seized by British authorities while carrying out an off-port limited logistics stop in Gibraltar on suspicion that it was carrying oil to Syria in breach of European Union sanctions.

12) Seizure of Iraqi Tanker and Grace 1 Dispute

On August 4, 2019, Iran seized an Iraqi tanker for taking oil to other Arab countries. The seven crew members on board were detained, further heightening tensions in the Persian Gulf and the bitumen price list for 2019.

13) IMSC Launches Operations

On November 7, 2019, the International Maritime Security Construct (IMSC) launched official operations in Bahrain to protect the shipping lanes near the troubled Iranian territorial waters. The coalition opened its command center in the country to ward off the perceived threat to the global oil supply amid the crisis.

14) US airstrikes on Iraqi militia and Attack on Baghdad Embassy

On December 27, Iran, Russia, and China performed a four-day naval exercise in the Indian Ocean and the Gulf of Oman. According to the Iranian government and military officials on its state news channel Press TV, the exercise was a response to the US–Saudi regional plans and was meant to demonstrate that Iran was not isolated despite the US embargo.

There were more events that largely affected the bitumen price list for 2019, but we have included only the most important ones.