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Stronger crude oil and HSFO supported Bitumen rates in several markets

 15 August,2022

As been anticipated in our last report,Stronger crude oil and HSFO supported Bitumen rates in several markets this week.

while September approaches,road construction projects in China are about to start in several regions. therefore,Bitumen demand will increase in this major market.

Bitumen demand from African bitumen deals continues to be affected by seasonal rains in west Africa and elections in east Africa. The Indian market is still under the impact of monsoon rainfalls as well. Generally,demand is expected to pick up in September from major markets.

The Bitumen prices in Singapore also faced an upsurge during the last week. the reasons for this support can be the growth in demand and the recent supply limitations.

 Due to religious holidays,there were lean transactions in Iranian bitumen last week. however,vacuum bottom prices strengthened this week in the middle east bitumen market.

Recent news of the JCPOA negotiations seems to modify the market predictions. The possibility of resumption in negotiations can destabilize the exchange rate again.

Concerns about the jump in the bitumen and thus the reduction in the currency exchange pushed many buyers to finalize their deals before any potential increase in the price.

Expectations for the oil market recovery after next week's OPEC+ meeting

1 Agust 2022.
The oil market that went through an unprecedented downward trend in the last few weeks,seems to be supported by recent market events.

Among the reasons for expecting this increase,the following can be mentioned:
•The complex supply situation in Europe due to more strict sanctions against Russia
•low possibility of a supply increase by OPEC+
•Recovery from the restrictions of the Covid-19 pandemic in China
•The report of a reduction in US oil reserves compared to the previous week
•The downward trend of the U.S. dollar index 
In the current situation,attention is on the OPEC+ meeting next week,where the September production schedule will be discussed. There has been no general report of resetting any supply plan. many sources have indicated that the result is likely to keep the production targets unaffected for September. The next change in prices may occur next week after the OPEC+ meeting on August 3rd.
Bitumen prices in Singapore remained stable during the last week. FOB prices were reported in the range of USD560-575. 
Singapore's bitumen prices were also supported at the end of the week. The main reasons can be the growth in oil prices along with the possibility of a demand boost in August and September.
Bitumen Demand especially for jumbo bags is propping from China and East Asian markets.
In a situation where the Iranian bitumen market had faced a price reduction in the last few weeks,the volume of bitumen transactions has been reported to be almost doubled compared to the previous week. Last week,Iranian bitumen was reported in the range of USD 355-380,which seems to face another increase in the coming week.
The new prices of Iran’s bitumen are USD 390-415 for drums depending on grade and payment term. FOB Price for Bulk bitumen is USD 310-320.


روز صنعت قیر ایران

بار ديگر، تلاش و همت جمعي از انديشمندان، اساتيد، صاحبان صنايع، متخصصين و فعالین صنعت قیر کشور، با برگزاري باشكوه و به‌ياد ماندني نخستین همایش بزرگداشت روز صنعت قیر ایران به ثمر نشست.
این دستاورد خطیر و خیره کننده،  جلوه ای ازتجلی همبستگی همه همکاران محترم در این عرصه است. 
 مجموعه سبکو، ضمن قدردانی از کلیه اعضا و هیئت مدیره محترم انجمن قیر ایران و دست اندرکاران و برگزارکنندگان این رویداد مهم،  باور دارد که با وجود اندیشه، همدلی، انسجام و همبستگی همه اعضا و زیر ساخت های علمی و تکنولوژیکی ارزشمند صنعت قیر،  در آینده ای نه چندان دور، جلوه های جدیدی از تحقق توانمندی های همه فعالین این حوزه را در عرصه توسعه پایدار، شاهد خواهیم بود.


The Bitumen Market is Waiting for a Clear Path

11 July 2022,

Last week,the price of Brent oil slipped below $100 per barrel for the first time in months. However,despite supply concerns and increasing demand,the rebound in oil was fundamentally predictable. The price of Brent oil has reached above $105 at the time of preparing this repo.

global developments; Economic crises caused by the high energy cost,supply problems and inflation continue to affect values. The drop in oil prices last week also affected the bitumen market.

In Singapore,Bitumen experienced a slight decline last week. It appears that an increase will be witnessed in Singapore's bitumen production in a few weeks.

Bitumen Prices didn't change in Bahrain and India but Due to supply tightness and a raise in demand,had small support in China.

Iran's bitumen market had a relatively quiet week. Currency exchange and vacuum bottom fluctuation along with all the market happenings made it difficult to invest in the current market.

FOB Bandar Abbas was around $355-365/MT for bulk,and drums were in the range of $415-435/MT last week.

Market participants seem to be waiting for a clearer market after the holidays. SEBCO team wishes you a safe and joyful holiday.

The Stable Price Level of Iran Bitumen

4 july 2022.

The oil market experienced unexpected fluctuations at the end of last week. Crude oil prices fell on Thursday because of concerns about a possible recession and slower demand.

However,OPEC+ announced an output increase despite tight global supply. Experts believe that OPEC+ members are already producing with their maximum capacity. The decision on Thursday won't seem to affect the physical crude oil reserve and contraction in future rates.

Generally,the supply disruptions and the resumed growth in global oil demand will put an upward trend in the oil market.

While Singapore's bitumen prices were almost firm last week,concerns about advancing inflation rates strived.

The start of some construction projects and the boost in seasonal demand will raise the chance of a potential increase in Singapore bitumen prices. Some news indicates that Supply restrictions in this market will strengthen the growth prospects.

Monsoon has advanced in most parts of India,which has led to the suspension of pavements and construction projects. However,cushioned bulk demand was detected from the middle east to the northern ports of India.

Due to exchange rate instabilities in the Iranian market,transactions have declined compared to previous weeks. Despite negligible transactions last week,bulk bitumen prices declared in the $365-370 range.

Signs of the market indicate that suppliers didn't have the intention to ease their prices due to the soaring export costs,uncertainty on VAT refunds,and instability in currency exchange.

How Does Resumption of JCPOA affect the Iranian Bitumen Market?

27 ,June 2022.

While the market for petrochemical products has been volatile during the past week,the bitumen market was almost uneventful. Despite a rebound on Friday,Crude oil prices fell for a second straight week and fluctuated in the range of $105 - 115.

Prediction for the future of the oil market is still in a state of ambiguity. The crude oil scenarios depend on the outcome of the OPEC+ meeting on Thursday,the economic crisis,and a further increase in US interest rates.

Bitumen prices in the European market have been dropping over the past week due to lower crude oil and fuel prices.

The India bitumen market is still in stagnation yet,except for some governmental projects that retain specific delivery times. The demand drop in India will annually persist till the end of the monsoon.

Iranian bitumen prices have plunged,but bitumen prices in East Asia and Singapore remained on the cliff during the past week.

The latest news about the resumption of JCPOA negotiations might slightly impact the current downturn of Iranian bitumen prices. There is a possibility of a subtle decline in the USD against IRR,which might move the price to an up level. Likewise,market recovery is possible if demand returns,especially from China and East Asian markets.

Economic and Political Crises following Market fluctuations and recessions have plagued global markets. Traders and importers have different assumptions about investing in the current market. Our suggestion to our dear customers is to consider all the market events for any vast investment.


The Inflation Crisis Caused Turbulent in Oil and Bitumen Market

20 ,June 2022.

The inflation crisis has made the US central bank announce the highest interest rate in almost 30 years. As a result,Oil prices slipped and fell to a two-week low level.

Demand from the Chinese market increased with the start of the high season. However,due to the new restrictions on the re-emergence of COVID-19 in major Chinese cities,the boost in demand has not been significant in some province.

The outset of the Monsoon season caused an early suspension of road construction projects in India. Buyers of bitumen and petroleum products in India have been more conservative,and there was no severe demand from this market.

Increasing demand against supply has driven Singapore bitumen price up to $600. Since there is an unusual gap between HSFO and the Bitumen prices in Singapore,this divergence may encourage refineries to produce more bitumen than HSFO in the coming weeks.

The rising value of the USD against the IRR caused the price of Iranian bitumen to fall in previous weeks.

The FOB Bandar Abbas for bulk bitumen reported nearly 365$/MT last week,and drummed bitumen traded in the 430-460$/MT range depending on supplier and payment term.

The current turbulent market doesn't allow any accurate prediction of any serious investments. The tendency for bitumen spot purchases seems more elevated than any long-term contracts.



SEBCO welcomes you at AICON ,2020

We are delighted to invite you to visit us in the 5th AMEA Bitumen Conference on 2020  which will be held on 15-16th January,2020 at OBEROI Hotel in Dubai. 

It will be a great opportunity to discuss your requirements and our offers in a professional environment.

We look forward to meeting you .

SEBCO welcomes you at AICON ,2020

We are delighted to invite you to visit our booth in the REx FUELS' ASIA & MIDDLE EAST (AME) BITUMEN & ROAD CONSTRUCTION CONFERENCE 2020  which will be held on 8-9th January,2020 in Dubai (Venue:The Adress Hotel,Dubai Mall,Dubai).

It will be a great opportunity to discuss your requirements and our offers in a professional environment.

We look forward to welcoming you at our booth.

Indian Bitumen Price Revision on 1st February,2018

Indian refineries bitumen prices decreases by USD 5 (INR 350) since the last announcement dated 16th January 2018.

SEBCO welcomes you at AICON ,2018

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We are pleased to invite you to visit our booth in the 2nd All India Bitumen Conference (AIBC 2018)  which will be held on 8th February,2018 in Mumbai (Venue:Leela Hotel,Mumbai,India).

It will be a perfect opportunity to discuss your requirements and our offers in a professional environment.

We look forward to welcoming you at our booth.