Weekly Bitumen Market Report – 5 May 2026

Global Overview

Global bitumen markets remained mixed over the week, with divergent trends across Asia, Europe, and Africa driven by shifting supply dynamics, energy price movements, and ongoing logistical constraints.

Asian markets continued to face pressure from weak demand and rising availability, while European and African regions generally remained better supported by higher energy-related costs and freight-driven pricing influences. Geopolitical tensions and shipping disruptions continued to play a key role in shaping global trade flows and sentiment.

West Africa

West African demand is expected to gradually improve in the coming weeks as construction activity recovers following recent weather-related slowdowns, particularly in Nigeria. Regional buyers continue to depend heavily on imports from the eastern Mediterranean, with reduced availability of Greek material increasing competition for Turkish cargoes.

In Nigeria, elevated diesel and bitumen costs, combined with intermittent rainfall, have recently weighed on activity and led to delayed purchasing decisions by some end-users. However, seasonal demand recovery is anticipated as paving programs resume ahead of the upcoming rainy season.

South Africa

South Africa’s bitumen truck prices increased by approximately Rand 500/t to R14,000–14,500/t ($845–876/t ex-works), supported by higher landed costs of imported cargoes, now primarily sourced from the eastern Mediterranean due to the absence of Middle East Gulf supply. Road construction activity remained relatively firm despite minor holiday disruptions, with additional cargo arrivals expected in Durban and Cape Town during May.

However, a seasonal slowdown is anticipated as winter approaches, alongside the annual maintenance embargo period from May to August. Overall delivered costs remain elevated due to additional port handling, storage, and logistics expenses, while infrastructure works—particularly road sealing and emulsions—have been accelerated ahead of the seasonal slowdown.

Singapore

Singapore’s bitumen market remained under pressure as regional supply increased and demand across Southeast Asia stayed subdued. Several refiners continued to hold unsold May-loading cargoes, while buyers maintained a cautious stance amid volatility in upstream crude markets and sufficient inventory levels. Trading activity was largely limited, with a small number of formula-linked deals concluded, while fixed-price offers remained uncompetitive.

Overall bids stayed below seller expectations, resulting in minimal spot market activity. Regional demand from Vietnam and Indonesia remained weak ahead of the monsoon season, while additional cargo availability from Northeast Asia further weighed on sentiment. Export prices for truck volumes to Malaysia also declined amid ample supply conditions.

Read More: How to Verify Bitumen Quality Before Importing

Malaysia

The Malaysian market remained quiet, reflecting broader regional softness and weak demand fundamentals. Buyers continued to adopt a wait-and-see approach, with limited urgency in procurement decisions amid declining benchmark prices from Singapore.

Domestic consumption remained subdued due to a lack of active road construction projects, as contractors await further government infrastructure funding. At the same time, increased truck availability from Singapore improved logistical flexibility and reinforced the well-supplied market conditions.

China

China’s bitumen market showed mixed trends during the week. Firmer upstream crude oil values provided cost support, prompting some refiners and warehouses in Shandong, East, and South China to adjust offer levels upward. However, state-owned refiners maintained stable list prices due to constrained production.

Demand remained weak ahead of the Labour Day holiday, with limited stockpiling activity and widespread suspension of road construction works. Despite tight supply conditions from reduced refinery output, market recovery is expected to remain slow due to ongoing rainfall and limited project financing.

India

India’s bitumen demand remained weak as contractors stayed on the sidelines due to elevated domestic prices and constrained project funding. Import prices declined slightly as inventories increased following additional Middle East cargo arrivals on the west coast. However, import interest remained relatively stable as buyers prepared for the peak demand season.

Market sentiment remained cautious amid geopolitical uncertainty and ongoing shipping disruptions affecting supply routes through the Strait of Hormuz. Some cargoes were also reported to have been sourced under pressure from Middle Eastern suppliers facing inventory constraints.

Iran

Iran’s bitumen export market remained relatively stable in pricing terms but continued to face significant logistical and geopolitical constraints. Elevated uncertainty in regional shipping routes, alongside limited vessel availability, continued to restrict export flows.

Some suppliers offered bulk cargoes at more competitive levels to manage storage pressure, while others maintained firm pricing due to high feedstock costs (particularly Vacuum Bottom) and tight availability of key grades. Export activity remained mixed: Pakistan showed modest recovery, Afghanistan and Uzbekistan maintained steady demand for drummed material, and Turkey continued to absorb bulk cargoes via competitive pricing channels.

However, drummed exports remained weak due to elevated logistics costs and shipping disruptions, particularly impacting flows to East Africa and parts of Asia. Exports to China remained heavily constrained with no fresh deals concluded, while only limited previously packed cargoes were offered. Overall market sentiment remained cautious amid continued financial and operational pressure on smaller traders.

Read More: Iran Bitumen Market Analysis

Market Outlook

Global bitumen markets are expected to remain volatile in the near term, with pricing direction largely influenced by logistics constraints, seasonal demand patterns, and ongoing geopolitical risks. While some regional recovery is expected in West Africa and China post-holiday, overall sentiment is likely to remain cautious across most markets.

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