Weekly Bitumen Market 19 May 2025
During the week of 12–16 May 2025, global crude oil prices slightly increased, with ICE Brent crude fluctuating between $64.23 and $66.18/bl, rising on average by $2.78/bl. This rise supported bitumen markets globally, although regional demand created varied price movements.
In Asia, bitumen prices faced mixed pressures. Overall, bitumen demand remained weak across Southeast Asia, except in Vietnam. In Singapore, export prices fell to $393–401/t fob as poor demand kept the market subdued.
In China, prices rose in both the south and the east. Despite the excess supply, the increase in crude oil prices supports local prices. Due to the rainy weather, demand was low in the south and east of China.
In India, demand was steady but lower than expected. Some refineries cut bulk and drum bitumen prices by Rs120-150/t, from the previous two weeks.
In the Middle East, the vacuum bottom price increased as more bitumen producers bought material. Also, drummed cargoes rose to $385-400/t fob, up $10/t, due to a lack of containers after the Bandar Abbas explosion, which elevated shipping and container stuffing costs.
Thus, demand for seaborne drums was weak, especially from India and Southeast Asia. Demand for jumbo bags from China remained low but grew from South Africa and the Far East.
Bahrain’s price stayed at $370/t, but supply became tighter as inventories were prioritized for domestic use ahead of the upcoming Sitra refinery maintenance.
In Iraq, drummed bitumen prices increased to $355-360/t. Also, jumbo bag demand from China was strong, with prices at $358–360/t.
In Africa, West Africa’s demand rose to complete the project before the dry season started. East Africa’s import drummed prices increased, up $10/t, but bulk cargoes were steady. South Africa’s import demand was weak due to cold weather. Also, the price remained constant despite the Sasol-Prax Natref refinery outage, which reduced domestic supply.
