Bitumen Prices, markets & analysis
With a network of price reporters across Asia, Europe and the US, ICIS is fully equipped to keep you updated on everything that happens in the global Bitumen market, whether you buy or sell Bitumen or related products. From daily and weekly reports containing price assessments obtained by our network of local reporters, to the news and analysis that put the market into focus, we provide the tools you need to make confident business decisions.
Our editor gives their expert view
The Asian market for bitumen is estimated at 35-40m tonnes. China’s demand accounts for 20m tonne and the balance is traded throughout the region.
Most regional players buy as locally as possible, and arbitrage is rare. This is because shipping costs can make long distance trade uneconomic.
From a supply perspective, bitumen is sensitive to crude/fuel oil prices. Bitumen is the last component left in a barrel of refined oil, and many refineries have fuel oil/bitumen swing capabilities.
The demand side for bitumen is driven by budgets for large public works such as road building and construction.
Overall, Asia is largely balanced. In North East Asia, China has domestic capacity and imports mainly from South Korea, Thailand and Singapore.
In Southeast Asia, Indonesia and Vietnam mainly import from Singapore, Thailand and Taiwan.
Over the medium term, demand is likely to increase in most Asian countries, with China, India and Indonesia likely to see the greatest growth.
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Bitumen news and market information products from ICIS
We offer the following regional Bitumen analysis and news coverage to keep you informed of factors and developments affecting prices in the Bitumen marketplace.
Price Reporting – More information about the price reports we publish on Bitumen
Independent price assessments and market coverage by region
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News & analysis
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Insight and analysis of factors driving prices.
Bitumen: Market overview
Updated to Q3 2014
Bitumen supply and demand in Asia and the Middle East will increase in the third quarter, while bitumen prices are to rise, supported by stronger demand.
China, the biggest bitumen consumer in Asia, will show more demand in the third quarter, due to more roads to start construction in summer. Driven by demand, China’s refineries will also hike bitumen production.
The same situation is expected in the Indonesian market, according to another important importer in Asia. Although demand in the second quarter was very weak due to the presidential election, more road construction will be started in August in Indonesia, increasing demand for Singaporean bitumen.
For other Asian countries, demand will also be increasing little by little in the third quarter.
As the demand is going to come up in the third quarter, the Asian bitumen price will raise accordingly.
News & analysis
Bitumen news & analysis
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Bitumen, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.
Bitumen is a heavy, semi solid oil derivative that gradually softens when heated. There are different qualities of Bitumen which will vary according to the type of crude oil refined.
ICIS pricing focuses on Bitumen 60/70 rated according the penetration and softening point tests at 25 deg C.