The African bitumen market stayed firm this week as supply problems continued to support prices across the region. In west Africa, cargo values moved higher following gains in crude and HSFO markets, although upstream prices remained volatile. Nigeria continued to see steady paving demand linked to infrastructure activity ahead of the 2027 elections, while regional supply stayed comfortable because of strong imports in recent months. In east Africa, lower Iranian export prices did not reduce delivered costs because freight and logistics issues around the Strait of Hormuz continued to disrupt flows. Buyers were still looking at high delivered prices and alternative supply sources from Europe and Asia. South Africa remained stable with ongoing paving activity, but winter restrictions are expected to slow demand in the coming weeks.
Nigeria Demand Stays Steady Despite Comfortable Supply
Nigeria remained the main demand center in west Africa this week, supported by paving projects ahead of the January 2027 elections. Domestic truck prices were unchanged at around Niara 1.25-1.30mn/t ($920-957/t) ex-works during the week ending 8 May.
Paving activity improved in some northern areas, although rainfall slowed work in the south over the last two to three weeks. Imports into Nigeria reached 16,000t in April, while May arrivals are expected to decline slightly because supply in the region is already sufficient.
Some sellers were also heard offering discounted domestic volumes as supply currently outweighs demand in parts of the market.
Ivory Coast Refinery Restart Adds Regional Supply
Supply availability in west Africa improved further after SMB’s refinery in Abidjan resumed operations in late March following a two-month turnaround. The refinery has already started supplying regional cargoes again, including a recent shipment discharged in Warri on 2 May.
Ivory Coast fob cargo differentials to Mediterranean HSFO prices were assessed steady at around $100-110/t.
At the same time, imports into Lome remained high, with volumes already reaching 41,000t so far this month compared with total west African imports of 49,000t during all of April. This suggests that regional buyers are still well supplied for now.
East Africa Buyers Face High Delivered Costs
East African buyers continued to struggle with supply disruptions linked to the Strait of Hormuz situation. Although Iranian export prices dropped sharply, delivered prices into the region remained high because vessel movements and logistics from the Middle East Gulf were still heavily disrupted.
Iranian bulk export prices fell by $66.88/t to $427-458/t fob Bandar Abbas, while drummed exports declined by $66.50/t to $496-526/t fob Bandar Abbas. However, freight rates from Bandar Abbas and Jebel Ali to Mombasa, Dar es Salaam, and Djibouti were unchanged at $230-240/t.
One importer discussed alternative supply options from Spain at around $950/t delivered, China at $800/t delivered, and Turkey at $600/t fob. Demand in Uganda and the DRC was said to remain firm.
South Africa Stable Before Winter Slowdown
South African domestic truck prices were steady this week at R14,000-14,500/t ($845-876/t) ex-works. Local suppliers continued accepting higher delivered costs for imported cargoes arriving from the eastern Mediterranean as Middle East Gulf supplies remained limited.
Paving activity stayed active, although holidays slowed some work. Additional cargoes are expected to arrive into Durban and Cape Town during May, including the Atlantic Narval, which is scheduled to arrive at Cape Town on 16 May with cargo from Turkey.
Demand is expected to weaken later in May and June as the winter embargo period begins, stopping road sealing, rubber, and emulsion applications from May through August.
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Bitumen 60/70 Price Today in Africa
