Bitumen / Asphalt
The leading source for global spot prices and market analysis for bitumen and asphalt
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Asphalt and bitumen prices are shaped by more than just local supply and demand. Movements in wider market fundamentals all play a role. To interpret these drivers and anticipate developments, you need comprehensive context.
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Latest bitumen / asphalt news
Browse the latest market moving news on the global bitumen and asphalt industry.
Asia to pull in more US, European bitumen
Asia to pull in more US, European bitumen
London, 7 October (Argus) — A price rally in Asia bitumen, supported by particularly tight supply from Singapore and South Korea, is drawing in much cheaper arbitrage cargoes from both Europe and the US. Price spreads between Asia and the rest of the world are now at multi-year highs, while tight supply in export hubs Singapore and South Korea looks set to continue through until at least the end of October, while Mideast Gulf supply remains heavily restricted by US sanctions and shipping limitations through the strait of Hormuz. Singapore bitumen prices had a premium of $263/t over Mediterranean cargoes and $361/t over US Gulf exports as at 2 October (see chart). Disruptions to crude supply via the strait of Hormuz have limited suitable crude feedstock for refiners in Asia, while a major Singapore refinery will further reduce supply this month as a result of maintenance. In the Mediterranean differentials to high-sulphur fuel oil (HSFO) have been falling through September as more supply became available, particularly from Greek, Italian and Spanish export points, while regional demand has been weaker on funding issues and some pushback on high outright prices after US-Iran tensions increased. Greek premiums to HSFO were around $30/t in August, but now Argus assessments stand at $7.50/t above HSFO. September and October would usually be among the busiest months for the European export market, before a winter slowdown when road works are reduced, but this year poorer funding and high outright prices have slowed demand. US Gulf prices are now particularly attractive and with seasonal paving and roofing demand starting to fall there — and with supplies ample — prices look set to remain weak. Strong margins have also led many US refiners to run at high rates and produce more bitumen, along with higher value products. Earlier this year the arbitrage to Asia also briefly opened , but now with the price premium in Asia higher, more cargoes are expected into the region through until at least November, according to traders. Import demand from Oceania and southeast Asian markets is expected to remain firm in the coming months because the peak road-paving season is now under way. Importers are actively seeking supply alternatives as traditional producers Singapore and Thailand have limited output. Argus assessed the fob Singapore ABX 1 at $830/t on 2 October, up by $26.50/t from the previous week. Singapore bitumen prices have climbed consistently since early September, thanks to firmer import demand from southeast Asian importers, particularly in Vietnam, as well as supply tightness. The fob South Korea ABX 2 assessment stood at $815/t on 2 October, up by $32/t on the week. ABX 2 prices have been climbing steadily since mid-August , owing to firmer buying interest from key consumer east China, where higher domestic offers and tight domestic output have supported the market. Movements include the 17,779 deadweight tonne (dwt) White Allegra heading from Greece, having loaded 11 September, and set to arrive at Singapore on 8 October, according to vessel tracking data. The 36,771 dwt Asphalt Synergy loaded in the US Gulf in mid-September and is expected to Tauranga, New Zealand on 15 October. The 36,754dwt White Pearl loaded a multi-port cargo from Tarragona, Spain, on 7 August, and made its final stop at Napier, New Zealand, on 6 October. The 13,265dwt Jin Zhou Wan is also expected to move to Oceania and loaded in the US Gulf on 26 September, while the 12,972 dwt Da Hua Shan arrived at Geelong in Australia on 3 October having loaded in Louisiana, US, in mid-August. By Jonathan Weston and Claire Ng Bitumen prices $/t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Czech, Polish bitumen supply to endure Saudi crude cuts
Czech, Polish bitumen supply to endure Saudi crude cuts
London, 1 October (Argus) — The Polish and Czech bitumen markets will remain well-supplied despite anticipated cuts in output caused by Saudi crude supply restrictions, according to market participants. Bitumen supply could be curbed from as early as mid-October, market participants said. But demand is unseasonably low, as it is in much of continental Europe because of funding limitations, and this will probably lead to continued bitumen price weakness against crude and high-sulphur fuel oil (HSFO) in the peak autumn season. In mid-September, state-controlled Saudi Aramco cancelled or deferred term crude supplies to some European refiners that were scheduled to load in late September, according to market participants. This is likely to dent bitumen output in Poland and in the Czech Republic. Orlen operates the 373,000 b/d Plock and 108,000 b/d Litvinov refineries in those countries, and sources more than 40pc of its crude from Aramco . The delays are linked to a prolonged outage on Saudi Arabia's 7mn b/d East-West crude pipeline, which was shut after it was attacked on 10 September. It has now restarted at 5mn b/d, a source said , allowing for crude exports to resume from the Red Sea port of Yanbu. Bitumen demand was slow in September in Poland and the Czech Republic, and output rose. The Plock refinery recently underwent planned maintenance on its hydrocracker unit, which effectively increased availability of vacuum residue and lifted bitumen output. Polish buyers in September built stocks for October paving demand. In the Czech Republic, the Litvinov refinery implemented a brief export curb to help meet domestic demand, and bitumen output at the refinery has been increasing steadily since mid-August. Orlen has the option to import from its 190,000 b/d Mazeikiai refinery in Lithuanian if output remains restricted. Lithuanian supply briefly alleviated Polish supply tightness in June and July. Mazeikiai increased bitumen output significantly in the past few months, with monthly sales surpassing 75,000t in July, August and September. Argus assessed Polish and Czech domestic truck prices at €572.50/t and €555/t, respectively, on an ex-works basis. These are five-month lows. By Navneet Vyasan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
German 1H bitumen output cut by Mideast crude shortfall
German 1H bitumen output cut by Mideast crude shortfall
London, 24 September (Argus) — German bitumen production fell by around 16pc on the year to 1.17mn t in the first half of 2026, official data show, because of a shortage of heavy crudes ideal for production of the road paving product. Output was particularly low in May and June, because the US-Iran war created Mideast crude shortfalls. German refinery output fell by more than 30pc on the year in May to 247,000t, and June production was 20pc loweron the year at 254,000t, according to data from the country's export control office (Bafa). Most German refiners rely heavily on bitumen-rich sour-grade crudes sourced from the Mideast Gulf, supply of which slowed after the US-Iran war led to the effective closure of the strait of Hormuz. The Transalpine Pipeline (TAL), which is a source of supply for the Miro consortium's 310,000 b/d Karlsruhe refinery in southwest Germany, was only able to run lighter crudes in May and June, effectively cutting bitumen output and inducing a switch to light-end products like diesel and jet fuel. TAL, which begins at Trieste in Italy, also supplies the Czech Republic's 108,000 b/d Litvinov refinery, owned by Orlen Unipetrol — a key supplier to Germany. Litvinov also focused on middle-distillate output, which effectively curbed trucked flows of bitumen to Germany. Delays to crude cargo deliveries also affected bitumen output at TotalEnergies' Brunbuettel and Klesch's 84,000 b/d Heide plants in northern Germany. Market participants said refineries in the north had to pause spot offers in order to continue term supplies to buyers in Germany, Denmark and Sweden. German road works generally start in April and break for summer holidays in August. With bitumen output constrained by feedstock issues, and crude and fuel oil prices volatile, domestic German bitumen prices averaged €679/t ex-works in June, the highest on Argus records. Many paving contractors consequently delayed planned road and construction projects to September. Paving activity has been slow in September, but market participants say product availability has improved significantly. Argus assessed average German domestic truck prices at €539/t ex-works in the week ending 18 September. By Navneet Vyasan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Rising prices, funding issues deter bitumen buying
Rising prices, funding issues deter bitumen buying
London, 17 September (Argus) — Higher outright bitumen prices are deterring buying across northwest and central Europe and the Mediterranean, limiting the usual recovery in demand after the August holiday period. Infrastructure funding constraints have hit demand in Romania and Spain, while import restrictions are limiting Algerian buying. The approaching end of the Nordic paving season, including in Sweden, is adding to the softer demand outlook. Limited export opportunities have added to the pressure. The Americas remain well supplied, while west African demand, led by Nigeria, is subdued during the rainy season. This has left European suppliers with few outlets for surplus volumes and ample refinery supply to meet regional requirements. Mediterranean cargo suppliers have consequently been forced to reduce their premiums to fob Mediterranean high-sulphur fuel oil (HSFO) cargoes to secure sales. Rotterdam cargo premiums to fob Rotterdam HSFO barges have also come under pressure. Spanish cargo premiums rose to $35/t above fob Mediterranean HSFO in late July, supported by rising Spanish bitumen consumption and busy seasonal work across much of Europe and north Africa. Refinery production was also constrained at the time by reduced availability of bitumen-yielding Middle Eastern crude following the effective closure of the strait of Hormuz. But Argus -assessed Spanish cargo premiums have since fallen to $10-15/t as construction activity has weakened. The Spanish government's provisional suspension of six road maintenance contract packages worth a combined €1.01bn ($1.17bn) has contributed to the downturn, while traders have reported greater spot cargo availability from Spanish export terminals. Delivered cargo costs rise as premiums fall Despite falling premiums, sharp gains in regional HSFO prices, together with higher cross-Mediterranean bitumen tanker freight rates caused by a spike in bunker fuel values since the renewed US-Iran escalation, have driven up outright prices for cargo deliveries into north African and Black Sea markets, prompting importers to retreat from spot purchases. Trading firms say fob cargo premiums at Mediterranean loading points have fallen to $10-15/t, with some indications in single digits, as suppliers seek to encourage buying. Delivered premiums into Algeria and Morocco have dropped to $70-80/t cfr from $110-120/t in July, while Libyan imports have been indicated at premiums as low as $60/t cfr. Domestic truck markets have also struggled to absorb the increase in crude and HSFO values, with refinery suppliers finding it difficult to raise bitumen prices in line with higher underlying costs. Project activity in Germany has been slow to recover in September, resulting in falling truck prices despite gains in northwest European crude and HSFO markets. Italian truck prices declined from €545/t ex-works, including the €31/t local tax, in late June to €500-505/t in early September, before recovering to an Argus -assessed €535-540/t last week. Over the same period, fob Mediterranean HSFO cargo values rose from $420/t to $542/t. Iraq's bitumen-rich Basrah Heavy crude, among the grades most affected by restrictions through the strait of Hormuz, increased from $66/bl to $124/bl earlier this week. Bitumen prices have lagged these increases partly because project activity has recovered more slowly than usual following the August holiday period. Romania is the region's worst-affected market. It depends on truck supplies from regional suppliers and cargo deliveries into its Black Sea terminals, but limited government spending on road and motorway projects and reductions in EU funding have hit demand hard. Romanian truck prices fell from €625-630/t ex-works in late June, their highest this year, to €515/t in early September, before rebounding modestly. Some cargo and truck market participants are already looking ahead to the low-demand winter season. They expect refinery supply to be sufficient to meet requirements during the remainder of the September-November paving and construction season, when demand is likely to be largely covered by term or contractual volumes. By Keyvan Hedvat and Navneet Vyasan Truck prices vs FO Med Differentials Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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