Taiwan’s Simosa sells one June bitumen cargo at $640/tonne FOB

10 May 2012 10:16  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Simosa on 9 May sold via tender one June spot bitumen cargo at $640/tonne (€493/tonne), a drop of $15/tonne or 2.3% from May cargoes, traders said on Thursday.

The drop in price on FOB (free on board) basis indicates the declining Asia demand and declining crude price have started weighing down on Asia bitumen price, industry sources said.

“The cargo will probably be sold to Southeast Asia, however, the price fall shows that buyers are losing interest,” a Singapore-based trader said.

Bitumen price is expected to fall across Asia within the month amid weakening demand, market players said.

This was the second batch of June spot bitumen to go on sale in Asia following a batch of Singaporean bitumen which was sold on 27 April, according to traders.

($1=€0.77)

By: Alfa Li
020-3762 0271

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