East Asia, India, and Iran Drive Bitumen Market Uncertainty

Key Highlights

• Global Prices: Brent crude at $68–69/bbl; Singapore 180CST fuel oil at $413/ton.
• Asia Trends: South Korea $409/ton, Singapore $400/ton, China’s eastern coast down $10/ton.
• India Outlook: Demand muted by monsoon, prices unchanged.
• Market Outlook: Downward trend in Asia, stability in Europe, uncertainty in Iran.

Crude & Fuel Oil Benchmarks: Brent Holds, Fuel Oil Steady

Crude & Fuel Oil (East Asia)

• Brent Crude: $68.20–$69.05 per barrel
• Singapore 180CST: $413 per ton
• Bitumen Prices:
  1. South Korea: $409 per ton
  2. Singapore: $400 per ton
• Bahrain & Europe:
  1. Bahrain Bitumen: $400 per ton (stable)
  2. Europe Bitumen: $370–$410 per ton
• India: No change; market largely inactive due to monsoon
• China
  1. Eastern Coast: Prices fell ~$10/ton
  2. Southern China: Slight demand, minor price effect
• Iran: VB Prices rising; exact rates not specified
• Market stagnant with pressure from currency depreciation

Demand–Supply Dynamics: Monsoon & Weather Pressures Dominate

• East Asia & China: Weak demand continues, especially in eastern China due to heavy rainfall, Southern China shows limited demand but insufficient to offset decline, U.S. crude inventories dropped unexpectedly, creating short-term upward pressure on Brent. Baghdad-Erbil agreement may increase supply from Kurdistan.
• India: Monsoon rains continue to suppress construction activity and bitumen demand.
• Europe & Bahrain: Europe showing signs of stability after early September correction, Bahrain remains steady.
• Iran: Market fragile due to anticipated sanctions and rial depreciation, Supply remains limited, with production conditions fragile.

Geopolitical & Market News: Sanctions, Currency Volatility, UNGA Highlights

• Political & Economic Developments: UN General Assembly: Trump dismissed climate change, blamed Europe for immigration policies, and claimed Ukraine can reclaim territories. Zelensky urged collective action to contain Russia; Eastern European leaders supported.
• Syria’s Ahmed al-Sharaa condemned Israeli attacks and requested lifting of sanctions Iran’s Masoud Pezeshkian denied nuclear ambitions, criticized Europe and U.S./Israeli actions.
• Bitumen Market Developments: East Asia bitumen prices declined despite earlier crude oil fluctuations. European bitumen prices stabilized after a minor correction.
• India remains in low-demand phase due to monsoon; construction activity sluggish. China eastern coast sees $10/ton price drop; southern regions slightly better. Iran faces additional market pressure from currency volatility and potential sanctions.
• Company Focus: Infinity Galaxy emphasizes monitoring Asian and African markets and flexible exports, positioning as a reliable supplier during challenging times.

Market Outlook: Asia Downtrend, Europe Stable, India to Rebound Post-Monsoon

• Global bitumen market likely to continue a steady downward trend in East Asia and China due to weak demand and weather disruptions. Europe expected to remain stable after early-month price correction.
• India’s demand recovery delayed until post-monsoon construction resumes. Iran’s market outlook remains uncertain, sensitive to sanctions and currency fluctuations. Suppliers focusing on real-time market analysis and adaptive supply chains may maintain competitiveness despite ongoing market pressures