Germany
Demand was described as very good with fine weather enabling road-paving activity to continue into December and the bitumen market is expected to operate up until 22 December, provided weather conditions remain favourable for roadwork.
Buoyant German demand continued to absorb significant quantities from neighbouring Holland.
The general price picture was one of stability but there was a small element of seasonal price-cutting by some suppliers in some regions. Bitumen prices were broadly pegged at €230-250/t ($305-332/t) ex refinery, although lower prices were heard in the eastern part of Germany.
Italy
Good weather and warm temperatures throughout the country have enabled road-paving activity to continue through November and into the first week of December. This, together with recent lower bitumen prices, has bolstered bitumen demand. A public holiday on 8 December put a slight brake on volumes last week.
IES’ 55,000 b/d Mantova refinery returned to operations in early December after a three-week full maintenance shutdown. The loss of bitumen production during the shutdown had marginal impact on the market, sources said.
Bitumen prices were stable at around €240-250/t ($319-332/t) fob including the €31/t ($41/t) government tax, or €210-220/t ($279-292/t) fob before tax.
Netherlands
Good weather in western Europe enabling road-paving activity to continue after the traditional end of the season meant that the Dutch market was operating at capacity. Good demand in Germany continued to absorb Dutch product.
Constructors were taking advantage of the fine weather to try to complete projects by the year-end and were expected to remain working until around 20 December, provided weather allows, and return to work after the end-year break in the second week of January.
Bitumen prices were stable at around €245-250/t ($325-332/t) delivered, netting back to an ex-works price of €225-235/t ($299-312/t).
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