• During the previous week, the Iran Mercantile Exchange (IME) recorded the introduction of 182,000 metric tons (MT) of Vacuum Bottom (VB) while witnessing demand registrations totaling 361,000 MT. This contrasts with the preceding week, during which the supply experienced a reduction of 4,000 MT. Notably, the entirety of the supplied VB was successfully traded, and the price fluctuation rate for the week ranged from a low of 7.2% to a high of 3.1%. The decrease in output volumes from the Tabriz and Tehran refineries contributed to a decline in the number of available offers in the market. In contrast, VB originating from the Arak refinery saw a noteworthy 3.1% increase in its price. The ratio between the closing price of VB and IME’s export bitumen price reached 91%, highlighting the interplay of various market dynamics. In terms of pricing, the average value of VB in the Free Market USD was evaluated at $290. Moreover, VB’s valuation within the Center of Exchange Dollar reached $345, underscoring the significance of currency fluctuations in influencing market trends.

  • Supplies within the IME’s export market reached approximately 84,500 metric tons (MT), marking a notable increase of 33,100 MT compared to the average of the previous month. This surge in supply can be attributed to contributions from Pars Behin Qeshm Oil, Isfahan Jey Oil Drum Bitumen, and Arak Pasargad Oil, collectively contributing to the heightened supply volume. Despite this influx of supplies, demand registrations amounted to 71,500 MT. However, given that the demand fell short of the supplies, not all of the offers were traded. Factoring in the exchange rate between the free market USD and Iranian Rial (IRR) at the published date, the negotiated equivalent rate for Isfahan Jey Oil Drum Bitumen stood at $381. The pricing for Tabriz, Tehran, and Arak Pasargad Oil Bulk Bitumen was set at $340 per MT. Additionally, the rate for Pars Behin Qeshm Oil was established at $302 per MT.

  • The Iran Export Confederation has declared that importing a commodity as a consequence of an export transaction remains a viable method for fulfilling foreign exchange obligations. As outlined by the confederation, due to the suspension of com- mercial licenses and the repatriation of less than 60% of export revenues to the country, the central bank’s foreign currency working group has implemented a measure. This measure allows exporters, under the condition of providing a notarized commitment, to engage in importing goods subsequent to completing an export. This action effectively lifts the suspension of their commercial licenses.

  • As per data released by Kpler, Iran’s crude oil exports to China are anticipated to surge to their highest point in a decade, reaching a daily volume of 1.5 million barrels. This significant increase in export volume signals a remarkable milestone in the trade relationship between the two nations. Additionally, according to Bloomberg reports, there has been a reduction in the import of crude mixtures along with bitumen to China. This reduction is attributed to the streamlining of customs operations, which has likely impacted the import dynamics of this specific commodity blend. The boost in Iran’s crude oil exports to China underscores the evolving dynamics in global energy markets and the chang- ing patterns of international trade relationships. Meanwhile, the shift in the import dynamics of crude mixtures with bitumen highlights the intricate balance between regulatory measures, customs procedures, and trade flows in the energy sector.


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FOB Bandar Abbas


180 Kg new steel Drums *Net Weight*



Bitumen prices last Updated: 10.02.2023




420 USD/MT 


               335 USD/MT

100% LC at Sight

  440 USD/MT

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  415 USD/MT

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