Bitumen markets showed varied activity last week. Prices remained quiet except in Vietnam. These prices softened as suppliers competed to clear May-June cargoes. Malaysia saw steady but slow demand. Indonesia’s weak consumption continued amid delayed road tenders. Thailand’s rainy season slowed work, though projects resumed during dry periods. Vietnam had stable demand but low bids due to cheaper alternatives. Bahrain’s supply tightened before refinery maintenance. Iran’s prices held firm despite limited trade.
Singapore’s Sluggish Market
Demand across Southeast Asia stayed low, with Vietnam as the only exception. More May-loading cargoes entered the market, pressuring prices. South Korean refiners had already sold large volumes via tenders, and traders may redirect excess cargoes to Southeast Asia if pricing allows. Offers for late May and June shipments declined as suppliers adjusted to attract buyers.
Moderate Demand in Malaysia
Activity was moderate but sluggish. No disruptions were reported in truck deliveries. Some shipments were noted from Malacca to Tanjung Langsat in recent weeks.
Awaiting Projects in Indonesia
Weak road construction activity kept demand muted. Government tenders for road projects are expected by June. Buyer indications dropped to 390−400/t fob Singapore, downfrom390−400/t fob Singapore, down from 395-400/t last week. Offers remained scarce, with one importer still holding June-loading term cargo for resale.
Rainy Season in Thailand
Rainy season conditions reduced consumption. Frequent downpours and floods disrupted work, though ongoing projects resumed during dry intervals.
Tough Negotiations in Vietnam
Enquiries for June-loading cargoes continued, but deals stalled due to low bids. Domestic prices and competitive northeast Asian offers kept negotiations slow. Demand is expected to weaken as monsoons approach northern regions.
Tight Supply in Bahrain
Listed prices stayed flat at $370/t fob Sitra. Seaborne supply tightened as local demand rose ahead of refinery maintenance. Import interest remained subdued.
Fewer Deals for Iran
Bulk bitumen prices were stable, but trading was limited. Some suppliers raised offers due to higher feedstock costs and a stronger rial. A few deals closed at $340-345/t fob Iran. Drum demand was weak, especially from India and Southeast Asia, with higher shipping costs after the Bandar Abbas port incident. Jumbo bag demand from China stayed low but improved in South Africa and the Far East. Some suppliers were fully booked until August.
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Bitumen Price In Middle East (Updated on May 20, 2025)
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