Weekly Bitumen Market: Weather Pressures, Weak Demand, and Mixed Price Trends 2 June 2025
During 26–30 May 2025, the Brent crude price ranged from $63.68 to $65.06/bl, down by an average of $0.74/bl. Bitumen price trends were mixed across key regions, declining in Singapore and the Middle East while rising in South Korea.
In Asia, the bitumen market experienced varied trends. Southeast Asian countries like Indonesia and Vietnam faced limited demand and consumption due to rains, holidays, and delayed government tenders.
South Korean bitumen prices rose above Singapore levels, trading at $402.50/t versus Singapore’s $395/t on 30 May, which reversed the usual discount pattern.
Singapore prices weakened on poor regional demand (down $0.5/t), while South Korea jumped on strong East China demand (up $11.5/t). China’s stable domestic prices, supported by low inventories and high feedstock costs despite weak consumption, helped drive the surge in South Korean prices.
India’s demand was weak due to an early monsoon, with buyers deferring purchases as inventories piled up.
In the Middle East, despite an increase in vacuum bottom (VB) prices, bitumen bulk prices declined due to weakened demand. Mideast Gulf export prices (fob) were $336.50-370.00/t, down $2.30/t weekly. Demand for jumbo bags remained limited, while Chinese interest in flexi-tank shipments stayed healthy.
Bahraini prices held steady at $370/t fob Sitra. Iraqi prices remained at $345-350/t fob for drums, with no new deals reported.
In Africa, West Africa’s bitumen market prices decreased due to declining Mediterranean HSFO cargo prices. In East Africa, drummed import prices remained steady, and countries such as Kenya experienced strong activity. Also, Southern Africa’s activity increased, while supply was reduced due to maintenance at Bahrain’s Bapco Sitra refinery and limited Pakistani exports.
