Lower Prices for Singapore
As growing availability in southeast Asia met reduced buying interest, Singapore’s bitumen prices continued to drop. May-loading cargoes were offered at $405 per ton FOB, while June-loadings ranged from $405 to 407 per ton FOB.
Construction Rest Slowed Demand in Malaysia
Malaysia’s bitumen demand remained calm due to the absence of new construction projects. Current activity centered mostly on maintenance work. General rainfall delayed paving, especially in Malacca, Kuala Lumpur, and Johor Bahru.
Careful Buying in Indonesia
Indonesia saw limited activity, with domestic demand staying weak amid minimal road construction. Tenders for new road work were still delayed. Most buyers preferred low inventories to cut storage costs.
Limited Export Volume in Thailand
Bitumen demand in Thailand held firm thanks to ongoing local paving projects. However, exports remained quiet due to tight supply. Prices stayed stable at $410–415 per ton FOB, and participants expect Thai-origin cargoes to continue trading at a premium compared to other regional supplies.
Limited Imports in China
China’s bitumen market was quiet, with limited passion for imports priced above $425 per ton CFR East China. South China’s interest was facedown, with levels unchanged at $430 to 440 per ton CFR, while export offers from the region were at $400 to 420 per ton FOB.
Weak Demand in India as Ports Disrupt
Bitumen demand in India was stable to weak, impacted by delayed project funding from state authorities. Contractors slowed road work, while importers hesitated to book drums due to the approaching monsoon.
A horrible explosion at Bandar Abbas disrupted packaged loading operations. Container shortages post-explosion and rising freight costs discouraged new inquiries for drummed cargoes.
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