The Asia and the Middle East bitumen market shows different trends in July. In Singapore and Malaysia, prices stay strong because supply is low and linked to crude oil prices. Rainy seasons in Southeast Asia may dampen demand into August, with Malaysia and Indonesia offering relatively stronger outlooks.
Bitumen market trends varied across Southeast Asia and the Middle East in mid-to-late July. Regional holidays, refinery maintenance, and fluctuations in crude oil prices shaped pricing and demand. Here’s a breakdown by country:
Singapore: Prices a little bit Higher Amid Tight Supply
Export prices increased slightly, reaching $430–440/t FOB, as buyers secured cargoes at higher rates due to tight supply. Despite this, market trade remained limited, with most of suppliers preferring formula-based pricing.
Trend outlook: Suppliers are mostly sold out for August, with limited immediate supply availability continuing.
Malaysia: Strong Demand Despite Eid Slowdown
Although the Eid al-Adha holidays briefly slowed activity, demand remained strong through July. Port Klang prices stood at $552–564/t, with sufficient supply from Singapore.
Trend outlook: Consumption likely to stay strong through August and potentially into September.
Indonesia: Demand Grows Gradually
Tenders for smaller road projects supported demand, especially in Java. Local prices reached $509/t ex-works, and Singapore origin cargoes sold above $480/t CFR.
Trend outlook: Demand is higher than in June but still below last year due to budget limitation.
Thailand: Weather Reduces Use, but Supply is Limited
Rainy weather limited paving, though low domestic output stabilized prices at $425–435/t FOB.
Trend outlook: Limited export availability persists; no major market disruptions despite political tension.
Vietnam: Divided Market, Low Buying Interest
Bitumen demand in Vietnam stayed steady but cautious. High prices and ongoing monsoon rains reduced buying interest, especially in the south. Most activity focused on northern Vietnam, where drier weather supported roadwork. Importers mainly discussed South China-origin cargoes. Offers from Singapore were around $480–490/t CFR, but buyers pushed for lower prices. Overall, importers showed little urgency due to already secured supplies and sufficient inventories. Heavier rains expected by late July may further slow demand.
Trend outlook: Stable demand, few extra cargo deals, weak outlook.
Iran: Steady Activity
Export prices were between $311–322/t FOB Bandar Abbas. Market activity remained steady through mid-July, with producers organizing shipments and operations in line with available resources. Trading continued at a moderate and planned pace.
Trend outlook: Stable demand, few extra cargo deals, weak outlook.
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Bitumen Price In Middle East (Updated on July 29, 2025)
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