This week’s global bitumen market reflected typical seasonal highs in Europe, strategic import activity in Africa, and monsoon-driven recalibrations across Asia. Amid improving European supply flows and Africa’s balancing act between weather and infrastructure needs, Asia-Pacific buyers tread cautiously as rains impact project schedules.
Construction in north and central Europe hit seasonal highs, supported by improved refinery output and new cargoes even from unconventional sources like the US Gulf. Germany saw its strongest demand late June, with buyers locking in volumes ahead of likely July adjustments. Meanwhile, Benelux markets improved from early June lulls but expect a taper as summer holidays begin. Poland and the Czech Republic, facing sluggish domestic offtake, leaned into exports, sending more product to Germany and Ukraine, where imports rose to offset local constraints.
Nigeria and several West African nations grappled with rains slowing road projects, though shipping lanes stayed active. Major vessels delivered cargoes to Togo, Nigeria, and Senegal, keeping regional supply steady. Ivory Coast sustained strong export premiums, signaling continued infrastructure momentum. South Africa, along with East Africa’s Kenya and Tanzania, kept import flows consistent, with freight rates ticking up due to tighter vessel availability. Libya restarted imports into Tripoli, hinting at stabilizing political and logistical environments.
Monsoon rains impacted Southeast Asia, prompting Thailand and others to slow project work. Vietnam continued buying cautiously, while China maintained robust import levels into its eastern ports, underscoring persistent infrastructure activity. Singapore suppliers held firm on offers amid tight local inventories. South Korean refiners directed more cargoes into Southeast Asia, exploiting opportunities where demand pockets surfaced. As the monsoon deepens, varied procurement strategies emerged, balancing immediate needs against uncertain timelines.
Seasonal cycles, supply recalibrations, and geopolitical undercurrents are setting the stage for an active start to Q3. Industry players will closely watch how European holiday slowdowns intersect with ongoing African and Asian project demands, influencing trade lanes and inventory strategies through the coming month.