This week’s global market update shows a dynamic balance between seasonal demand shifts and logistical challenges. While Europe navigates refinery maintenance and holiday restarts, Africa faces weather-related slowdowns, and Asia-Pacific continues to adjust to monsoon-driven demand cycles — with India playing a pivotal role.
North and Central Europe entered September with high stock levels, leaving buyers cautious about fresh spot purchases. Roadworks restarted in the UK, France, and Germany after the holiday lull, giving demand a modest lift.
Refinery maintenance in the Netherlands and Germany added complexity, but no major shortages are expected as regional inventories remain strong. Still, traders are closely watching how upcoming tenders may shift supply dynamics.
Meanwhile, Central Europe faced slower infrastructure approvals, with the Czech Republic struggling under new digitalized project systems, dampening immediate outlooks. In the Nordics, activity was more upbeat, supported by steady demand from Denmark and Lithuanian supplies.
Across Sub-Saharan Africa, weather remained the biggest challenge. Heavy rainfall in Nigeria, Ghana, and Cameroon slowed project work, reducing local demand. In contrast, East African markets like Kenya and Tanzania continued robust construction activity, requiring steady import flows.
South Africa maintained consistent demand, with major projects moving forward. North Africa — especially Morocco and Algeria — stood out with strong and sustained imports, reflecting high construction momentum.
Fleet dynamics also shaped the week. Large tankers serving Ghana and Togo were repositioned following shipyard maintenance, underlining the region’s continued importance as a shipping destination.
South Asia remained under monsoon conditions, slowing India’s road projects. Still, Indian buyers were proactive, securing cargoes for the coming months to ensure project pipelines remain uninterrupted into Q4.
China showed stronger import appetite, especially in the south, helping offset weak Southeast Asian demand. Taiwan’s refinery maintenance also boosted import volumes. South Korea sustained its role as a major exporter, with cargoes moving steadily across the region.
Southeast Asia, particularly Singapore, faced subdued activity with high inventories limiting buying interest. Regional markets are now watching how India’s post-monsoon project push may absorb additional supply.
The next 4–6 weeks will be crucial as Europe manages refinery maintenance, Africa battles ongoing rainy season disruptions, and Asia prepares for India’s post-monsoon surge. Stakeholders should track seasonal demand rebounds, import scheduling, and shipping availability as Q3 positioning accelerates.