China imports Iranian bitumen for first time in eight years
25 May 2012 10:39 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China imported 2,053 tonnes of bitumen from Iran in April, after a gap of eight years, partly due to lower price for the material, industry sources said on Friday.
Chinese importers had stopped buying from China in 2006 following problems with the quality of bitumen coming from Iran.
Iranian material was imported at $540/tonne CFR (cost & freight) while other cargoes were priced at about $660-700/tonne, market sources said.
Bitumen imports from Malaysia increased by a hefty 157% year on year to 34,047 tonnes in April, data from China Customs showed.
South Korea, the biggest bitumen supplier to China, shipped 53,924 tonnes of the material in April, down by 75% year on year, the data read.
China imported a total of 143,244 tonnes of bitumen in April, a decrease of 57% from a year ago, according to the data.By: Alfa Li020-3762 0271
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