This week’s global bitumen market was shaped by rising crude costs, seasonal construction cycles, and major geopolitical tensions. While Europe and Africa respond to project logistics and supply pressures, Asia navigates monsoon impacts and freight uncertainties. Let’s break down the developments.
Crude and HSFO spikes drove cargo prices upward, with European traders eyeing transatlantic arbitrage routes from North America. Benelux activity lagged seasonal expectations, while France operated at full capacity with refinery recoveries in full swing. Germany showed mixed trends — northern regions slowed, while others stayed stable. Poland emerged as a key exporter to Ukraine, compensating for local supply shortages due to recent attacks on refining assets.
West Africa’s demand cooled under the rainy season, especially in Nigeria, but cargo flows stayed strong into Ivory Coast and Ghana. South Africa saw a spike in importer activity to secure reserves amid Middle East uncertainties and refinery closures in Bahrain and Pakistan. Meanwhile, Algeria and Morocco prepared for infrastructure expansions ahead of global sporting events, drawing consistent shipments from the Mediterranean. East Africa’s markets held steady with minimal pricing movement.
In Southeast Asia, importers advanced their purchasing timelines to avoid July and August monsoon impacts. Singapore suppliers raised bids but mulled cutbacks due to tight margins. India’s buying was muted but cautiously proactive. In China, supply rose on rising costs but failed to translate into demand amidst prolonged rains. Vietnam buyers navigated high freight and slowdowns, while South Korea withheld unsold tender cargoes amid soft market responses.
As the monsoon deepens and geopolitical uncertainty persists, all eyes are on refinery output strategies and cross-regional shipping routes. Expect more arbitrage plays, inventory adjustments, and weather-driven volatility in the coming weeks.