Singapore's bitumen exports rise 12% month on month in August

20 September 2010 08:11  [Source: ICIS news]

SINGAPORE (ICIS)--Bitumen demand in Asia was showing some signs of rebound after several months of lacklustre activity as reflected in the latest export data from Singapore, regional bitumen traders said on Monday.

Singapore’s August bitumen exports rose by 12% month on month on the back of higher export volumes to China and Indonesia, according to trade statistics released by International Enterprise Singapore (IE Singapore) on Friday.

Bitumen export volume in August stood at 144,200 tonnes up from July’s 128,800 tonnes.

The city state's main export destinations were China, Indonesia and Malaysia, accounting for 47,800 tonnes, and 49,900 tonnes and 24,500 tonnes respectively.

Bitumen prices might have bottomed out, especially in China as the weather cleared up and demand for road construction was improving, said a Chinese bitumen trader.

For the first eight months of the year, Singapore's bitumen exports totalled 1.055 million tonnes, IE Singapore said.

Bitumen is used in road construction and paving, as well as in water proofing of homes and industrial buildings.

The main bitumen producers in Singapore include ExxonMobil, Shell, SPC and Chevron.

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By: Anu Agarwal
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