Bitumen Prices, markets & analysis
ICIS price reporting for regional Bitumen markets is unparalleled in its ability to keep you on top of the information you need.
Our network of price reporters delivers direct and regular insights into the local markets they work in.
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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.
Bitumen news and market information products from ICIS
We offer the following regional Bitumen coverage to keep you informed of factors and developments affecting prices in the China Bitumen marketplace.
Price Reporting – More information about the price reports we publish on Bitumen
Independent price assessments and market coverage
Price History – More information about the historical price data we publish on Gas
Track historical price data
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News & analysis
News & Analysis - News & market analysis specifically relating to Bitumen
Breaking news of latest developments affecting the markets.
Insight and analysis of factors driving prices.
Updated to Q3 2014
China was in its traditional bitumen busy season in the third quarter. Driven by demand, bitumen prices typically rise from the second quarter.
However, not only did Chinese refineries hike bitumen production, but also importers brought quite a lot of imported bitumen into China market, so the China market is still oversupplied. China’s mainstream traded bitumen price of third quarter only rose about CNY100/tonne from the previous quarter.
For example, in East China market, heavy traffic bitumen prices averaged CNY4,292/tonne in September, up by CNY36/tonne or 1% from that in July.
Although many road projects were under construction in the third quarter, bitumen demand growth is weak due to capital tightness and the rainy weather.
However, the importing margin was fairly good in the third quarter, so that lots of cargoes poured into China market. Prices of imported bitumen climbed higher at the same time. For example, the Korea bitumen CFR East China price of Korea bitumen averaged at $565/tonne in September, up by $14/tonne or 3% from that in July.
ICIS provides pricing information, news and analysis for all major markets, including bitumen.
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Our historical pricing information includes price assessments, indices and trades and - for some markets - stretches as far back as 1994. Our historical data suite can provide you with: price assessments and trades for Europe's most liquid hubs; benchmark indices series for flagship NBP market; unrivalled price history for seven European power markets; LNG price assessments, pool prices and trades; detailed pricing information for the crude oil, carbon and coal markets; tailored packages to suit your needs.
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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.