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Iran’s June bitumen exports rise on firmer demand

  • Märkte: Oil products
  • 22.07.21

Iran's bitumen exports in June rose by 19.5pc compared with a month earlier, supported by firmer demand from Asian countries and Africa.

Exports rose to about 446,000t in June, up from 373,000t shipped in May, according to data from the Iran Mercantile Exchange.

June demand firmed particularly from countries that resumed buying after the Islamic fasting month of Ramadan during April-May. Buying interest also rebounded from southeast Asia and Africa because of a fall in prices during June.

But bitumen consumption in India remained limited because of the start of monsoon season from June, along with continuing Covid-19 lockdowns with another wave of infections in April and May. Roading projects were restricted during most of this year's second quarter, partly because of the absence of migrant workers that left for their home towns during the latest outbreak.

Iranian bitumen exports dipped to 1.16mn t in the second quarter, down by 10.7pc from 1.3mn t sold during the same period in 2020.

Iran's export prices dipped during June against May in line with weaker vacuum bottoms feedstock prices. Volatility of the Iranian rial versus the US dollar also coupled with weaker regional demand to exert downwards pressure on the market. Argus assessed prices at $265/t fob Bandar Abbas on 18 June, down by 16.8pc from $318.50/t a month earlier.

Iran exported bulk cargoes to key markets like the UAE, India, Oman, China, Pakistan and Armenia. Bitumen shipped in drums and bags were also exported to India, the UAE, Bangladesh, Kenya, Tanzania, Myanmar (Burma), Malaysia, Taiwan, Indonesia, Afghanistan and China.


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