Bitumen prices across Sub-Saharan Africa moved higher in the week ending 27 March, with the strongest increases seen in East African markets due to rising freight costs and higher export prices from the Middle East Gulf. While West African import prices showed slight corrections after weeks of sharp gains, volatility in crude and HSFO markets continued to influence cargo pricing. Southern Africa also recorded moderate increases, with stronger upward adjustments expected in April as the delayed impact of global price shifts, particularly those linked to the Iran conflict, filters into local markets.
West Africa
In West Africa, import prices showed signs of easing after three consecutive weeks of strong gains, although the market remained highly volatile due to fluctuations in crude oil and high-sulphur fuel oil benchmarks.
Cargo availability from Spanish export terminals remained relatively high, putting downward pressure on differentials.
However, regional construction activity stayed firm, even as rising diesel and bitumen costs began to weigh on demand.
Vessel activity remained active across key routes, with multiple shipments arriving or scheduled for delivery into Senegal, Ghana, and Nigeria.
Nigeria
Nigeria’s domestic truck prices remained largely stable following recent increases, supported by the availability of lower-cost inventory imported prior to the Iran conflict.
Prices were mostly reported around Naira 1.35mn/t ex-works, although some transactions continued at lower levels due to existing stock.
Despite this temporary stability, market participants anticipate sharp price increases in April as higher international cargo costs begin to fully impact the domestic market.
There were also early signs of demand softening, as construction firms faced rising operational costs, particularly for diesel.
Ivory Coast
In Ivory Coast, export activity remained constrained as the Abidjan refinery awaited the arrival of Colombian Castilla crude, delaying a full restart of production.
Despite this, some cargo flows continued through regional trade networks, including deliveries into Ghana via joint venture terminals.
FOB export differentials declined slightly during the week, largely reflecting ample spot cargo availability from alternative supply sources, particularly Spain.
Ghana
Ghana continued to receive steady inflows of bitumen cargoes, including shipments into the Tema import terminal.
Recent deliveries and scheduled arrivals for April indicate continued reliance on imports to meet domestic demand.
Market sentiment remains firm, supported by ongoing construction activity, although higher import and freight costs are expected to gradually push prices upward in the coming weeks.
East Africa (Kenya, Tanzania, Uganda, DRC)
East African markets experienced the sharpest price increases, driven by a new wave of higher export prices from Iran and significant rises in container shipping costs.
Delivered prices for drummed and containerized bitumen surged, with freight rates increasing sharply due to war risk premiums and logistical disruptions.
In Kenya, domestic truck prices rose dramatically to KES150 –170/kg ex-works, nearly doubling from late February levels.
Supply shortages emerged as limited cargo arrivals over recent weeks tightened availability, although alternative supply routes from Europe are being explored at higher costs.
South Africa
South African truck prices increased modestly during the final week of March, rising by Rand 250/t to R11,300–11,700/t ex-works.
The market remains supported by strong seasonal demand from road construction activity, although supply inflows have slowed significantly since early March.
Inventories remain relatively high for now due to earlier import waves, but market participants expect sharper price increases in April once suppliers adjust monthly pricing in line with higher global costs.
Recent and scheduled cargo arrivals from Mediterranean sources continue to supplement local supply.
Outlook
The Sub-Saharan African bitumen market is expected to face continued upward pressure in April, primarily driven by elevated freight costs, constrained supply flows, and higher global feedstock prices.
The full impact of the Iran conflict is yet to be fully reflected in regional pricing, particularly in West and Southern Africa, where delayed transmission effects are likely to trigger sharper increases.
While demand remains relatively resilient, sustained cost inflation could begin to dampen purchasing activity, especially in price-sensitive markets.
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