During The last week of May 2025, Brent crude price ranged between $64.14 and $65.46/bl, down by an average of $0.38/bl. Bitumen price trends were mixed, falling in Southeast Asia and the Middle East but rising in South Korea and China.
In Asia, bitumen demand remained weak overall, except in Vietnam. Singapore’s bitumen export market saw increased activity since demand from Vietnam increased, taking advantage of reduced Chinese competition as several refiners prioritized the domestic market. Vietnamese buyers concluded June-loading cargoes at $392-400/t fob Singapore.
In China, domestic prices rose 20–30 yuan/t, and export prices hit $420/t. Demand weakened in east and south China because rain disrupted road construction, while northern consumption remained firm.
Bitumen prices in India declined slightly despite steady demand in northern regions, as monsoon rains slowed activity in western and southern regions. Drum demand was firm, but delayed deliveries reduced interest.
In the Middle East, bitumen prices dropped due to lower feedstock costs and weak demand driven by the monsoon season in South Asia. Offers for bulk prices fell to $330-335/t fob, and drummed cargoes declined by approximately $5-8/t to $378-395/t fob.
Iraqi prices stayed stable at $340-345/t fob for drums despite supply constraints from truck strikes. Chinese demand for jumbo bags was strong, with deals at $358-360/t fob. Bahrain maintained unchanged prices at $370/t fob amid weak demand.
In Africa, West Africa saw lower cargo prices due to reduced freight costs, with strong demand as road builders rushed to finish projects before the rainy season. East Africa’s import prices from the Middle East dropped by $1.4/t (bulk) and $4/t (drummed). In this region, demand and activity in countries like Kenya were high. Southern Africa also saw robust activity despite cold weather.
