Understand the challenges facing the China bitumen market
Bitumen oversupply and capital tightness softened the market in early 2013. Increased output and imports saw domestic supply exceed demand, which was also affected by a reduced investment in road projects. Higher outputs from domestic refiners saw China’s bitumen consumption increase by 25% year on year to about 11.19m tonnes in the first half of 2013. Although demand also increased, it could not offset the excess domestic output.
China is the first country with a futures market for bitumen, and the market was buoyant in the first three quarters of 2013. But domestic prices started to fall and kept falling and speculative traders faced losses from winter stockpiling.
The bitumen futures market may become an important tool for cost management optimisation by physical market players. But it may be resisted if there is excessive speculation in the futures market.
The China Bitumen Market Annual Report will help put the situation into context. This latest ICIS report includes: market activity and supply-demand fundamentals, road projects and construction plans, bitumen import margins, and a comprehensive market outlook for 2014 – 2018. With its objective analysis and assessments, the report will prove invaluable to upstream and downstream market players, investors and research institutions.
The China Bitumen Market Annual Report gives you a complete overview of the China bitumen market in 2013, with insightful forecasts of anticipated developments up to 2018. The report is comprehensive, ranging from an analysis of the impact of the world’s only bitumen futures market on the physical market, to a thorough assessment of China’s current road construction plans.
The ICIS China Bitumen Market Annual Report covers:
The China Bitumen Market Annual Report analyses the China bitumen market in detail. The market intelligence, insights and forecasts make it easy to assess the state of the bitumen market now, and assess future market developments. The current report also goes into detail on the bitumen futures market and examines its likely impact on physical prices.
Use the ICIS China Bitumen Market Annual Report to:
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