Bitumen Price May 2020

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Bitumen Price May 2020

Bitumen market pricing strategy

In general, the bitumen market in the world has two different directions, according to pricing and trade. The West Asian region, with its focus on the Persian Gulf, is now one of the world’s hubs for production and pricing in the bitumen market. Meanwhile, the production of bitumen in this field pays a lot of attention to the supply of bitumen in Iran, so much so that we can say that the Iranian bitumen brand is one of the pillars of pricing in the world and the bitumen price May 2020.

On the other hand, the Middle East bitumen is often priced and traded in other countries such as the UAE or Bahrain; however, the prices discovered in the commodity exchange can also be one of the price indicators in the world. However, a significant part of bitumen consumption in East Asian countries is centered on China, and this signal has led to the prices discovered in this area in the Chinese market to be accepted by many countries.

What are the reasons of fluctuations in bitumen price May 2020?

To be more specific, the fluctuation of the bitumen price May 2020 in the Chinese domestic market is one of the important rates in the world markets, so much so that in some pricing mechanisms, the same rate is considered as an important indicator and it is transmitted. Of course, the bitumen price may 2020 discovered in the domestic markets of China are calculated in yuan, and of course, the same rate is transmitted in yuan. This does not mean that the various institutions that transmit the bitumen price may 2020 weekly and sometimes daily in different parts of the world do not play a role in this process, but the role of such institutions should be considered very prominent.

What statistics indicate about the bitumen price May 2020?

Statistics announced in the Chinese market have been officially available since 2016; however, major market changes in recent weeks and months have become more significant. Given the general conditions for bitumen production in the world and the production of vacuum bottom as the main raw material for bitumen in the crude oil refining process, the high bitumen price may 2020 fluctuates with the high price of crude oil, which is a price indicator for the market. A look at the price fluctuation of bitumen compared to the price of crude oil shows that the bitumen price may 2020 has a near lag compared to oil, meaning that the growth of crude oil price is faster than the increase in bitumen price, which can be considered a stimulus for bitumen price growth.