03 May 2012 10:05 [Source: ICIS news]
SINGAPORE (ICIS)--Prices of June cargoes of Singaporean bitumen may be weighed down in the near future because of weak demand from major buyers, ?xml:namespace>
A Singaporean refiner sold two bitumen cargoes of 3,000 tonnes each for delivery in June to Indonesia via tender last week, with a tender award price of $660/tonne (€502/tonne) FOB (free on board), lower than the $665-670/tonne for May cargoes, according to traders.
Bids for the May cargoes were around $645-650/tonne, said the traders.
According to some traders, some Singaporean refiners who are insisting on prices of $670-680/tonne FOB for June deliveries are witnessing slow sales, with some still selling May cargoes.
In addition, buyers from
“The price of May South Korean cargoes has also dropped, so Singaporean bitumen price has to fall to remain attractive,” added the trader.
($1 = €0.76)
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