European Bitumen Prices Shift as US-Canada Tariff Approaches

Summary

During the week ending March 14, cargo prices rose slightly, supported by small boosts in Rotterdam’s HSFO market, while most truck prices remained stable. Demand in central European markets, including Poland, the Czech Republic, and Romania, stayed low as these countries began recovering from a vast winter. Meanwhile, market participants on both sides of the Atlantic closely monitored the ongoing US-Canada tariff dispute. Many traders hesitated to finalize shipments from Canada to northwest Europe due to uncertainty over the proposed US tariff on Canadian energy products. While bitumen is expected to fall under a 10% tariff, there is still a possibility it could be classified as a construction material, increasing the tariff to 25%. The implementation of this tariff has been delayed by a month and is now set to take effect on April 2.

UK Truck Prices Drop

Domestic truck prices in the UK are dropping at £460-475 per ton delivered, following new agreements between buyers and sellers for March supplies. Market participants reported a wide price range, with some deals as low as £448 per ton and others reaching £481 per ton. This price variation reflects fluctuating demand as periods of high project activity and substantial bitumen requirements are partly influenced by weather conditions.

Stable Prices in Poland

Truck prices in Poland and the Czech Republic remained steady at €465-475 per ton and €460-470 per ton, respectively. Poland’s Orlen refinery kept its bitumen prices for Ukraine unchanged at €435-440 per ton, while Lithuanian bitumen was offered to Ukrainian buyers at €380 per ton.

Slow Market in Hungary & the Baltics

Hungary’s domestic truck prices remained stable at €450-460 per ton, with slow market activity despite early signs of better weather after a harsh winter. In the Baltics, heavy snowfall kept demand low, leading to a steady supply of export cargoes, particularly from Klaipeda, Lithuania.


Turkey’s Prices Hold as Ships Wait


Turkish refiner Tupras kept its domestic truck prices steady at $473 per ton for the week ending March 14. No new bitumen cargo leaves were reported from Turkish ports, though vessel tracking data showed several ships waiting for their next loading at Tupras or other export terminals.

Charts

Bitumen Price In Europe (Updated on March 18, 2025)

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