Bitumen report in May 2019
- Category: News
- Published: Thursday, 23 May 2019 11:51
- Written by Super User
- Hits: 1417
Bitumen is widely used as a binding organic material, made from the by-products of refined crude oil. Bitumen is used in road construction, as it is easy to produce, reusable, non-toxic, and a strong binder.
- Increasing road construction ( asphalt ) and repair activities and demand from commercial and domestic building constructions are augmenting the growth of the market studied.
- Increasing environmental concerns are likely to hinder the market’s growth.
- Robust growth in construction activities in the Asia-Pacific region is projected to act as an opportunity for the market in future.
The Asia pacific bitumen market
Bitumen trading in Asia Pacific has been reported in stable situation and there hasn't been seen any fluctuation or dealing . Regarding to remarkable raise in heavy oil sour price, Singapore is expected to maintain its rate of bitumen output . Thailand has the same situation as Singapore And it's not going to increase its rate of output .
On the other hand Indonesia , Malaysia and Vietnam are to be expected to raise their buying bitumen volume on midst of June after Muslims holiday which is known as 'Eid al-fitr . China has declined its import rate after yuan value has been fallen dramatically. Although dramatic raise in heavy oil sour price , Malaysia as the only country in Asia pacific is planned to increase its production rate .
Recently there has been held a tender in Indonesia on which this country bought 10000 MT BITUMEN FOB Singapore for 420 USD to be delivered on June and we are going to see increasing demand for Bitumen inquiry on both bulk bitumen and drum bitumen for this country . In India because the bitumen price has been declined up to 15 $ in the domestic bitumen market . Myanmar as well as Bangladesh have been increased their buying bitumen inquiry from Iran and expected to be increased more in the futur
The middle east bitumen market
In middle east the bitumen market has been stable . Iran Bitumen prices dropped because for USD Exchange rate
C I S bitumen market
The C I S bitumen market which is include Russia , Ukraine and Azerbaijan we are expected to see increasing demand for bitumen inquiry
Africa bitumen market
On Africa due to rain , bitumen consumption has been declined , on the other hand ,the fund which has been allocated on east , west and north has been increased dramatically and the construction on Africa is progressing in a good way . Due to decrease on production rate for refineries , south Africa has held a tender for bitumen . Bitumen refinery try to find a way to sell their cargo to African market like total oil company in Europe