Bitumen / Asphalt
Overview
Global bitumen and asphalt spot prices are influenced by changing supply and demand fundamentals, VGO and crude prices. Argus is the only provider of global bitumen and asphalt spot prices assessed by a global team of reporters, based on market trade. Spot price coverage includes regional truck, rail and seaborne prices.
Latest bitumen / asphalt news
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China Chambroad exports bitumen under zero-tariff rules
China Chambroad exports bitumen under zero-tariff rules
Singapore, 24 June (Argus) — Chinese independent refiner Chambroad has exported its first bitumen cargo from Hainan province's free-trade port under a zero-tariff policy for raw materials and crude oil processing, in a step towards more competitively priced bitumen exports. The zero-tariff policy allows refiners to process and export bitumen without paying value added tax (VAT) on crude imports, thereby lowering production costs. The zero-tariff policy applies only to feedstocks used to export bitumen. Feedstocks used to produce bitumen for the domestic market and to produce other products will be subject to VAT and other duties. The first cargo was loaded on the 5,255dwt Leo Asphalt II at Hainan's Yangpu port on 20 June and was discharged in Haiphong, Vietnam on 23 June, data from oil analytics firm Vortexa show. Lower production costs from VAT-free crude feedstocks under the policy will likely lead to price reductions in seaborne bitumen offers from Chambroad's 2mn t/yr Hainan plant in the future, market participants said. But it is unclear when the refiner will ease export prices, they added, as supply allocation depends on domestic and export market fundamentals. Profit margins from domestic sales are better than for exports as seaborne values are lower than domestic prices, a source close to the refiner told Argus. The zero-tariff policy is expected to reduce the differences in profit margins between domestic and export sales, providing the refiner with greater leeway to allocate more of its production for exports in the future. But the zero-tariff policy is currently under trial implementation, another source close to the company said, indicating that it may not be applicable for all the companies exporting from Hainan in the near term. Seaborne prices of south China cargoes have recently risen following firming upstream crude and high-sulphur fuel oil values , also trailing gains in fob Singapore ABX 1 values, despite overall sluggish demand in southeast Asia. Offer levels and selling indications for export cargoes were at around $410-430/t fob south China last week, market participants told Argus. This was up from $405-420/t fob south China during the week ending 13 June. By Claire Ng and Sathya Narayanan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Refinery maintenance to limit Bahrain's bitumen exports
Refinery maintenance to limit Bahrain's bitumen exports
Mumbai, 15 May (Argus) — Bitumen export supply from Bahrain state-controlled refiner Bapco's 267,000 b/d Sitra refinery is expected to fall in May-June because of upcoming planned maintenance work and subsequent upgrading work at the plant, international bitumen traders and importers told Argus . The planned maintenance is scheduled to start around the end of May and will limit bitumen output as a vacuum distillation unit (VDU) will be taken off line, market participants close to the refinery said, but further details on the turnaround was unavailable. Some international traders and importers told Argus that Bapco will not offer waterborne cargoes during the turnaround, which is expected to last through June, and available inventories will be reserved for domestic consumption. Listed seaborne bitumen prices are at $370/t fob Sitra, unchanged since mid-April. Earlier this month, the 3,394 deadweight tonne Sidra Al Wakra vessel loaded a 3,100t cargo from Sitra for discharge in Qatar, shiptracking data from global trade and analytics firm Kpler show. The same vessel is scheduled to load a similar-sized cargo in the coming week, the data showed, but it was unclear if this would be the last bitumen tanker loading schedule ahead of the turnaround. Import demand for Bahraini cargoes has been lacklustre since 2024 because of competitive offers from neighbouring Iran, and only those with special requirements were enquiring for Bahraini cargoes. Import demand was mostly from Qatar, the UAE, and South Africa's Durban. The weekly fob Iran bulk price was assessed by Argus at $342.50/t on 9 May, at a discount of $27.50/t to Bahrain's listed seaborne prices. The Argus -assessed fob Iran bulk prices were at a discount of $109.90/t on average to Bahrain's listed seaborne prices in 2024. The discounts widened to as high as $201/t at the end of May last year. Meanwhile, the Sitra refinery is undergoing upgrading as part of the $7bn flagship Bapco Modernisation Project (BMP), which will increase the refinery's capacity to 380,000 b/d from 267,000 b/d. The project was inaugurated towards the end of last year and currently the refinery is likely starting up secondary units, but further details on the progress of this were not available. The upgraded refinery will primarily increase output of middle distillates, indicating that output of heavier products such as bitumen will be reduced, especially with the start-up of the secondary units. By Sathya Narayanan, Ieva Paldaviciute and Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
German road firms issued €10.5mn tender-rigging fines
German road firms issued €10.5mn tender-rigging fines
London, 14 May (Argus) — German competition authorities have found seven companies guilty of co-ordinating tenders and contracts with order values usually of between €40,000 and €200,000. The German Federal Cartel Office (Bundeskartellamt) imposed fines totalling €10.5mn ($11.8mn) on seven road repair companies for customer and tender collusion, it announced on 13 May. The companies involved are AS Asphaltstrassensanierung, bausion Strassenbau-Produkte, Bitunovia, Gerhard Herbers, alles fur den Bau, Mainka Strassenunterhaltung, and Muritzer Oberflechentechnik (Mot). The companies AS, bausion, Herbers and Bitunova were found to have divided various clients from the federal states of Saxony, Thuringia and Saxony-Anhalt among themselves across 2018 and 2019. In 2016-19, the companies bausion, Liesen, Mainka and Mot were discovered to have regularly co-ordinated on tenders from public contracting authorities in Brandenburg and, in 2016 and 2017, Saxony-Anhalt, and the companies Liesen and Mot also co-ordinated tenders in Mecklenburg-Western Pomerania. The violations affected a large number of tenders and contracts from public contracting authorities such as municipalities and state road construction authorities. The orders included road repair measures including surface treatment, patching of road surfaces, crack repair or the supply of bitumen emulsion or chippings. In addition to breaking antitrust law, the bid agreements are also punishable under Section 298 of the Criminal Code. The findings came to a head when the German Federal Cartel Office carried out a search operation in August 2019 together with the Dusseldorf Public Prosecutor's Office and the North Rhine-Westphalia State Criminal Police Office. When setting the fine, it was taken into account that Bitunovia had co-operated with the federal office within the framework of the leniency programme. All proceedings were concluded by way of amicable settlement and the fine notices are final. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Construction firms see tepid private demand in 2025
Construction firms see tepid private demand in 2025
Houston, 30 April (Argus) — Building materials suppliers Martin Marietta and Vulcan Materials anticipate market uncertainty and elevated interest rates to hamper private construction demand this year. Some large commercial projects have been paused because of macroeconomic volatility stemming from US trade policies, according to remarks made by Vulcan's chief executive Tom Hill on an earnings call today. The current interest rate environment is also expected to stifle residential construction activity this year, according to Hill. The CME FedWatch tool showed a 95.5pc probability that the US Federal Reserve would hold its target interest rate steady at its next meeting on 7 May. Martin Marietta's chief executive Howard Nye echoed the same uncertainty around macroeconomic conditions and affordability constraints limiting residential construction growth. Hill and Nye also shared similar remarks on tariffs, and both noted the potential for increased costs but minimal impact on earnings. Both companies also pointed to data centers as a bright spot on the private demand side with warehouse construction stabilizing following years of declines. Sentiment around public demand was more positive with both Martin Marietta and Vulcan Materials expecting continued growth in public construction activities at the federal and state level. Hill mentioned more than half of Infrastructure Investment and Jobs Act (IIJA) highway funds are still yet to be spent. Nye said IIJA contributions will peak next year and expected the potential reauthorization of federal surface transportation programs to focus on roads, bridges and ports. Nye also said the push for a new $200/yr fee on electric vehicles was a "really good start" for tackling issues surrounding the Highway Trust Fund. Asphalt revenue jumps Martin Marietta's asphalt and paving revenue grew by 37pc to $80mn in the first quarter of 2025 compared to the same quarter last year with shipments up 26pc over the same period. The boost was supported by higher volumes in California, according to the company's earnings report. Some market participants in California noted demand for liquid asphalt was slightly above forecasts in January with the National Oceanic and Atmospheric Administration reporting below-average precipitation levels for the month. Martin Marietta's aggregates shipments also increased by roughly 7pc in the first quarter. Vulcan's asphalt revenue rose by about 12pc to roughly $209mn in the first quarter of 2025 compared with the same quarter last year. Shipments were also up by 4pc over the same period. Hill noted savings on liquid asphalt reached around $3mn. Wholesale prices on the Gulf coast averaged about $397/st over the first quarter, 2pc below values from the same time in 2024. Aggregates shipments slipped by nearly 1pc in the first quarter of 2025 compared to the same period last year. Vulcan noted frigid temperatures hampered volumes in the quarter as acquisitions made last year helped offset some negative effects from adverse weather. Overall, Martin Marietta reported a gross profit of $335mn on revenue of $1.35bn in the first quarter. This is compared with a profit of $272mn on revenue of $1.25bn in the same quarter last year. Vulcan reported a gross profit of $365mn in the first quarter on revenue of about $1.64bn. This is up from a gross profit of $305mn in the first quarter of 2024 on revenue of roughly $1.55bn. By Cobin Eggers Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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