Eid Break Slows Trading in Singapore
Bitumen prices in Singapore edged lower as the market shifted toward May-loading cargoes. Weak demand during the Eid al-Fitr holidays and a dip in crude oil values pressured pricing, with offers at $430 per ton FOB Singapore, but buyers held back.
Holidays and Delay Demand in Malaysia
The Hari Raya Puasa celebrations and bad weather slowed bitumen demand in Malaysia. While small projects existed, rainstorms delayed construction activities, meaning demand would likely pick up only later in April.
Eid Holidays Freeze Activity in Indonesia
Eid-al-Fitr holidays halted bitumen trading in Indonesia. With operations resuming on April 8, demand is expected to stay limited as the government has not yet released tenders for road paving projects. Supplies remain sufficient for now.
Earthquake in Thailand but No Boost in Demand
Although the earthquake in Bangkok caused some disruption, it didn’t significantly affect bitumen demand. Local refineries were still running at reduced rates, and offers for May-loading cargoes were capped at $430-435 per ton FOB Thailand, with buyers staying careful.
Vietnam Waiting for Demand to Pick Up
Vietnam saw some interest in end-April and May-loading cargoes, but there was no rush to buy. Road construction delays in March due to bad weather resulted in enough stock, and importers were waiting for demand to rise.
Market Fluctuations in China
China’s domestic prices fluctuated with crude oil trends. Demand remained weak, particularly in southern China due to rainy weather. Offers failed to attract buying interest, with prices falling to $430-440 per ton CFR in the east and $465 per ton CFR in the south.
Limited Offers from the Middle East in India
In India, around 23,000-25,000t of VG40 cargoes were purchased at $345-350 per ton FOB Iran. A shortage of prompt cargoes led to offers at $355 per ton FOB Iran, and participants expect payments to be released by the states of Karnataka and Andhra Pradesh soon.
What do you think about the current market trends in West Asia?
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