Latest Bitumen Price

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Months	1st Week	2nd Week	3rd Week	4th Week
January	345-355	345-355	320-330	310-320
February	315-325	310-320	310-320	305-315
March	310-320	315-325	340-350
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 * Looking for high-quality bitumen? Contact our sales team to get a consult. 

* The weekly rates are subject to change due to fluctuations of ocean freight and commodity in the market

     

Months	1st Week	2nd Week	3rd Week	4th Week
January	400-405	400-405	390-400	390-400
February	395-405	400-405	400-405	400-405
March	415-425	420-430	445-455
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Months	1st Week	2nd Week	3rd Week	4th Week
January	400-405	400-405	390-400	390-400
February	395-405	400-405	400-405	400-405
March	415-425	420-430	445-455
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Months	1st Week	2nd Week	3rd Week	4th Week
January	390-400	390-400	380-390	380-390
February	390-400	385-395	390-400	390-400
March	395-405	410-420	440-450
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Months	1st Week	2nd Week	3rd Week	4th Week
January	310-320	315-325	345-365	365-375
February	425-435	430-440	430-440	430-440
March	440-450	440-450	440-450	440-450
April	450-460	445-455	420-430	425-435
May	425-435	415-425	400-410	390-400
June	390-400	380-390	355-365	355-365
July	350-355	340-350	335-345	310-320
August	300-305	330-340	340-350	350-360
September	350-360	345-355	330- 340	310- 315
October	300-305	320-330	380-390	340-350
November	350-360	380-390	380-390	385-400
December	375-385	365-375	350-355	340-350
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Months	1st Week	2nd Week	3rd Week	4th Week
January	385-395	400-410	425-435	435-445
February	490-495	510-520	510-520	510-520
March	520-540	520-540	520-540	520-540
April	530-550	525-545	495-505	500-510
May	500-510	485-495	465-475	465-475
June	465-475	460-465	450-460	440-450
July	435-445	425-430	405-410	380-390
August	375-385	410-420	410-420	420-430
September	420-430	425-430	410- 420	395-405
October	380-390	405-410	435-445	425-435
November	420-435	430-440	430-440	450-460
December	420-430	420-430	415-420	400-410
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Months	1st Week	2nd Week	3rd Week	4th Week
January	385-395	400-410	425-435	435-445
February	490-495	510-520	510-520	510-520
March	510-520	520-540	520-540	520-540
April	530-550	525-545	495-505	500-510
May	500-510	485-495	465-475	465-475
June	465-475	460-465	450-460	440-450
July	435-445	425-430	405-410	380-390
August	375-385	410-420	410-420	420-430
September	420-430	425-430	410- 420	395-405
October	380-390	405-410	435-445	425-435
November	420-435	430-440	430-440	450-460
December	420-430	420-430	415-420	400-410
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Months	1st Week	2nd Week	3rd Week	4th Week
January	385-395	395-405	405-420	420-430
February	470-475	495-505	495-505	495-505
March	485-495	485-495	485-495	485-495
April	495-505	490-500	480-490	485-495
May	485-495	475-490	460-470	455-465
June	455-465	450-460	435-445	435-440
July	430-435	420-425	400-410	370-380
August	365-375	400-410	410-420	420-430
September	420-430	415-425	405- 415	385-395
October	370-380	395-405	425-435	425-435
November	415-430	425-435	425-435	430-440
December	420-430	415-425	395-405	385-395
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Bitumen:

Bitumen, a valuable black substance, is one of the crude oil products. Therefore, it has some of the features of crude oil in itself. In other words, there is a close relationship between these two materials.

One of its apparent properties is its blackish-brown color. To add more, the color of bitumen can be lighter or darker depending on its content.

By the way, its application is mainly in road construction and roofing pavements.

 

Latest Bitumen Price:

Since bitumen is a product obtained from crude oil, oil prices can affect the latest bitumen price. Also, some other factors can have an impact on bitumen prices, such as:

• The amount of supply and demand
• The cost of the tools
• Usable materials during the production process
• Packing and transportation which are involved in producing bitumen
• Climate condition and consumption seasons
• Population growth
• Natural events
• Political problems like sanction and revolution

 

How Does Crude Oil Affect the Latest Bitumen Price?

Oil prices are changing in response to several reports about countries’ policies and global market fluctuations. On the other hand, rising or falling oil prices are also affecting global trade.

Over the past decades, OPEC member countries have increased and decreased production through cooperation, managed supply, and determined the oil and the latest bitumen price.

Although OPEC’s control over the global oil market has declined recently, its decisions continue to play an essential role in the oil market.

Governments, oil companies, brokers, oil insurers, investors, traders, policymakers, and consumers are scrutinizing the organization’s decisions as closely as possible.

Regularly, oil consumption rises during the travel season and in the winter.

 

Oil’s Direct Effect on the Latest Bitumen Price:

Oil has been the driving force behind the world economy for many years. Even today, when most countries are looking for alternative fuels, life without crude oil is unthinkable.

Carbon-based fuels are used in light and heavy products. They are used in the manufacture of chemicals, textiles, detergents, medicines, and all sectors of the transportation industry.

In short, Crude oil has been one of the most important materials in the industry since the 1950s, especially in the transportation industry.

 

Bitumen Price in 2023:

According to financial organization estimation, crude oil prices can increase in 2023. So, this can cause to increase in the latest bitumen price. With the fluctuations of the exchange rate and the economic growth of each region, we have to see how the price of oil will go in 2023.

All in all, the projects will continue in Europe, Africa, and East Asia unless particular circumstances like Corona cause them to stop.

Hence, there will be a demand for bitumen supply in the new year all over the world, just the amount of that may differ.

 

Iran Rank:

Fourth in terms of oil reserves and the sixth-largest producer, and can play an essential role in the latest bitumen prices and oil prices. That is why any sanctions imposed on Iran’s oil exports will directly influence world oil prices. But more important and prominent than Iran is a group of countries that have become members of an organization called OPEC to have a more significant impact on global oil prices and the latest bitumen prices to maintain high prices by controlling oil supply.

As we have explained above, the bitumen market, including the demands, price fluctuations, production, imports, and exports, depend on some global variables: the oil market, crude oil and the global economy. That’s why we update our market analysis every week.