Global bitumen markets entered November with contrasting regional momentum. While Europe cooled under seasonal slowdowns and refinery disruptions, African terminals saw vibrant activity ahead of year-end projects. Meanwhile, Asia navigated a blend of strong domestic demand in India and logistical delays from ongoing monsoon conditions.
November brought a clear split across Europe — slowing demand in the north and constrained supply in the south. In Germany, refinery maintenance at Brunsbuettel and Schwedt continued to limit availability, while Hungary’s Százhalombatta refinery operated at half capacity. Construction activity waned across Central Europe as lower temperatures curtailed works and several asphalt plants shut for winter.
Meanwhile, the Nordics maintained higher activity until late October, benefiting from extended government-funded infrastructure projects before the seasonal freeze. Western Europe saw stable demand and logistical realignments, with Rubis taking over operations at Antwerp’s ATPC terminal — a move that could strengthen northern Europe’s storage and supply network going forward.
African markets showcased resilience and strategic planning this week. North Africa remained particularly active, with Algeria maintaining high import levels as terminal operations accelerated before fiscal year-end. West Africa’s dry season supported stronger construction momentum, especially in Nigeria and Ghana, where recent rainfall had delayed earlier projects.
In East Africa, weather challenges moderated activity in Kenya and Tanzania, though regional buyers continued to plan imports in anticipation of drier conditions. South Africa stood out for its large inflow of imported cargoes — up to eight vessels this month — as local refiners remained offline. The arrival of Mediterranean and Asian cargoes underlined the continent’s growing integration into global trade routes.
Across Asia-Pacific, the market reflected mixed signals. India continued to lead with strong infrastructure-driven consumption, sustaining consistent ex-works activity. In contrast, Singapore saw subdued trading amid buyer hesitation and oversupply. Southeast Asia’s rainy season and logistical constraints delayed procurement decisions in Thailand, Malaysia, and Vietnam.
China’s northern slowdown and reduced construction hours contributed to weaker intake, while South Korea resumed steady exports after refinery maintenance. The broader region remains watchful of weather transitions and logistical fluidity, with December cargo commitments expected to form the next focal point for traders.
As winter tightens across Europe and parts of Asia, attention is turning toward strategic inventory management and forward bookings for early 2026. African importers are set to drive volumes through year-end, while Asian markets prepare for seasonal demand recovery once weather disruptions subside. Stakeholders should monitor refinery performance, regional freight trends, and early indicators of post-winter construction activity.