Bitumen Market Overview 11 August 2025

Geopolitical Tensions Weigh on Global Markets

The humanitarian crisis in Gaza remains unresolved, and the Russia-Ukraine conflict persists. Donald Trump’s new tariff directive raised tariffs in 66 countries, including a 25% levy on Indian goods over its Russian crude purchases, pressuring markets and raising tensions in India. Crude oil fell to $67.27/bbl due to OPEC+ output hikes of 574,000 bpd and weaker demand.

Global Bitumen Market News

bitumen market news, In North Africa, demand remained strong as construction projects continued uninterrupted. Cargo prices to West Africa declined alongside falling crude oil and HSFO values. In South Africa, activity was relatively low, with prices holding steady in early August. Singapore’s export prices fell due to increased buyer resistance and a shift in negotiations toward September-loading cargoes. Iran’s bulk export prices remained under pressure amid weak demand and lower bidding levels.

Africa Bitumen Market News

West Africa:

Heavy rains continued, especially in Nigeria, delaying paving work. Demand and activity remain low, with no recovery expected before late September. Cargoes are scarce, and no deliveries were scheduled for early August. Côte d’Ivoire saw local demand ahead of October’s presidential elections, with truck shipments from neighboring countries.

East Africa:

Early August demand was steady, supported by government funding and road works in Kenya and Uganda. Iranian bulk bitumen prices fell $5-8/ton FOB Bandar Abbas, while drummed bitumen rose $6.50/t.

South Africa:

Prices stayed at July levels as major suppliers held rates. Gulf-sourced supply—partly from Iran—remained restricted. Congestion stayed active despite rain, with Cape Town facing floods that slowed progress.

Middle East Market Overview

Bahrain:

Listed seaborne prices remained stable at around $500 per ton FOB Sitra. The state-owned refinery has not yet resumed its seaborne exports following recent maintenance.

Iran:

Export prices remained under pressure due to weak demand and lower bids. Higher vacuum bottom (VB) feedstock prices and limited supply kept bulk bitumen prices steady. Demand from neighboring Middle Eastern countries declined due to hot weather.

Iraq:

Bitumen prices increased due to high feedstock costs and tight supply. Trading activity was also limited because of the Arbaeen pilgrimage, with transportation and logistics expected to be restricted from August 5 to 15.

East Asia Market Overview

Bitumen Market News in Singapore: Early August export prices fell on weak buying and a shift to September cargoes. An extra 20,000 t from one refiner added pressure, though mostly sold at moderate premiums. Spot trades stayed small (<3,000 t). September offers held at $435-$440/t FOB, showing limited selling pressure.

Malaysia: After weeks of strong demand, consumption eased. Contractors await September government funding. Supply—especially from Singapore—exceeds demand, with no major new projects.

Indonesia: Stable demand, contractors await more tenders or budget releases.

Thailand: Dry weather lifted demand. Supply stayed tight due to refinery maintenance until mid-August.

Vietnam: Rain slowed paving. Monsoon and typhoon season kept demand weak; high inventories and cheaper Middle East cargoes pressured prices.

China: Rain hit demand in the north and center; the north was stronger. Buyers avoided large spot buys as inventories fell slowly. Recovery not expected before October.