Bitumen demand across Asia-Pacific showed a low to moderate trend this week. Southeast Asia remained largely calm, particularly with the ongoing effects of the monsoon in countries such as India, Malaysia, and Thailand. Traders in Singapore were careful due to global economic uncertainty. While some refiners resumed operations, weak project channels and rainy seasons in multiple regions kept market activity quiet. In China, rising output and holidays slowed the market. India’s early monsoon led to lower prices and reduced demand.
Quiet Market in Singapore
Traders showed low confidence due to US tariff uncertainty, which, although not directly impacting Asia, affects global sensation.
Most suppliers had sold out and were no longer offering, although some were still seeking buyers for June cargoes at $400–$ 405/t FOB Singapore.
Steady Supply and Low Demand in Malaysia
Bitumen supply from Singapore and Malaysia was steady throughout the month. However, demand stayed low due to a lack of new projects and rainy conditions in Johor Bahru, Kuala Lumpur, and Sarawak. Consumption levels were generally low to moderate.
Indonesia and Quiet Week Demand
Public holidays (29–30 May) kept activity low. Some interest appeared for second-half June cargoes. Bids and buying indications stood at $385–395/t FOB Singapore.
Demand Interrupted by Rain in Thailand
One major refiner resumed operations after May maintenance, easing supply pressure. Prices balanced at $395–400/t FOB Thailand.
Rain slowed roadwork, but demand was expected to bounce back during dry spells.
Pre-holiday slowdown in China
Production rose slightly, keeping prices stable despite higher crude costs. The market slowed ahead of the Dragon Boat Festival (31 May – 2 June).
Import prices stayed higher than domestic; trades closed at $435–440/t CFR east China, with offers around $440/t.
Monsoon Impact in India
Monsoon season started early, raising inventories and weakening prices. Import demand dropped; 15,000 tons of VG40 were purchased at $335/ton FOB Iran.
Offers were $333–340 per ton, and bids were at $330–335 per ton. The drummed pen, 80/100, was still in demand in Jammu & Kashmir, but rain reduced demand in other regions.
Charts
Bitumen Price In Asia-Pacific (Updated on June 2, 2025)
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