29 August 2012 09:14 [Source: ICIS news]
South Korean suppliers are selling spot September bitumen at $610-615/tonne (€488-492/tonne) free on board (FOB), up by $40/tonne from August because of tight supply, they said.
Traders said that prices of the September spot cargoes would be equivalent to $640-650/tonne CFR (cost & freight) east
Bitumen is used in paving roads and its consumption usually picks up in September in
South Korean refiners normally peg bitumen prices with fuel oil prices, which are on the rise.
($1 = €0.80)
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