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Status of bitumen in exports and imports to countries – part 3

bitumen-export

• China

During the period January to February 2021, China imported 557258 MT of Bitumen. The country imported 350693 MT of Bitumen in January and 206565 MT in February 2021. During the period Jan to February 2020, China imported 667347 MT of Bitumen. As per the data analysis by our team, import of the country has gone down by 16% during Jan to February 2021, as compared to the same period last year i.e. Jan to February 2020. Compared to last month i.e. January 2021, import of the country has decreased by 41% in the month of February 2021. China import has gone down by 21% in February 2021, as compared to the same period last year i.e. February 2020.

• Mumbai

Bitumen import into Mumbai Port is down 50% this year as coronavirus cases surge in a new wave which is expected to last till June. More than 60,000 tons of bitumen arrived into Mumbai this year as the city logs over 10,000 Covid-19 cases in record surge. During the period January to February 2021, India imported 63216 MT of Bitumen into Mumbai port. The country imported 19255 MT of bitumen in January 2021 and 11882 MT in February 2021. During the period January to February 2020, India imported 31137 MT of Bitumen into Mumbai port. As per the data analysis by our team, import of the country has decreased by 51% during Jan to February 2021, as compared to the same period last year i.e. Jan to February 2020. Bitumen import of India into Mumbai port has gone down by 38% in February 2021, as compared to last month i.e. January 2021. India’s Bitumen import into Mumbai has decreased by 61% in February 2021, as compared to same period last year i.e. February 2020.

•India

India’s February bitumen production was up 10% as the country breaks all records with a a massive surge of 132,000 Covid-19 cases yesterday.

During the period January to February 2021, India produced 1.10 million MT of bitumen. The bitumen production was 526,000 MT in January 2021 and 575,000 MT in February 2021. During the period Jan to February 2020, India produced 989,000 MT of bitumen. As per the data analysis by our team, India’s Bitumen production gone up 11% during Jan to February 2021, as compared to the same period last year i.e. Jan to February 2020.

India’s bitumen production has gone up by 9% in February 2021, as compared to last month i.e. January 2021. India’s bitumen production increased by 7% in February 2021, as compared to same period last year i.e. February 2020

• Singapore

Singapore bulk Bitumen price up by 30% since start of the year.

In Singapore, FOB bulk bitumen price gone down by USD 5 PMT since last week price and are currently in the range of USD 425 – 440 PMT. Average FOB Singapore Bulk Bitumen prices are hovering around USD 330 PMT in January 2021. Prices hiked up further & prices reported at USD 365 PMT in February and USD 435 PMT in March 2021. In current month i.e. early April 2021, price of the product have gone down by USD 5 PMT (1%) as compared to last month price & prices reported at USD 430 PMT. Prices are up by USD 260 PMT (153%) in April 2021 as compared to same period last year i.e. April 2020. Since January 2021 prices increased by USD 100 PMT (30%) in April 2021.

•Iran

Iran’s bitumen production, export and prices soar with constructive nuclear deal talks and JCPOA meetings underway in Vienna.

Iran produces around 6 million tons of bitumen a year and exports around 4 million tons every year. Iran’s FOB bitumen prices have skyrocketed to two year highs supported by stronger Rial and firmed VB and Crude Oil prices.

Iran emerges as the largest bitumen exporter in 2020 with record volumes shipped to the AMEA Region. The largest bitumen exporters are South Korea, Singapore and Iran. South Korea exported 3.12 million tons of bitumen in 2020 and Singapore exported 2.7 million tons of bitumen in 2020 while Iran exported around 4 million tons of bitumen. These record volumes were shipped to large regional buyers across Asia, Middle East and Africa. The top Iranian bitumen producers and traders will be participating at the Petrosil 6th AMEA Bitumen Conference on October 27, 2021 in Dubai during Expo 2020 and the start of the region’s peak demand season. Early confirmed participants include Hormozan Oil, Petro Sanat Hormozan, Hiwa Oil, Bituco Group.

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