Middle East and Southeast Asian Bitumen Prices and Trade Trends, Mid-October 2025

WPB confirms that the Middle East bitumen market for mid-October 2025 experienced a weakening trend primarily because of soft demand and oversupply. While crude and feedstock prices were up, bulk export spot prices fell to around $260–270 per tonne, some $5 below early October levels. Drum-loaded loads were, however, relatively firmer at around $372–386/t. The difference reflected the weak pace of regional projects and muted roadbuilding activity. Among regional players, Bahrain export prices stood close to $400/t, while Iraqi producers recorded minimal or no transactions owing to weak buying interest by traditional Indian consumers.

Bahrain and Iraq continued as the leading exporters of Middle Eastern bitumen and held positions as the largest suppliers until 2024, exporting approximately 167,000 tonnes and 70,000 tonnes, respectively. Lower but regular supplies were also offered by Turkey and the UAE, adding to general export volumes. These shipments are typically exported toward Asian markets, where prices are competitive, making Middle Eastern bitumen a financially feasible option. While Saudi Arabia's trade revolves around asphalt and refined bitumen derivatives, the natural bitumen industry still finds itself dominated by Bahrain and Iraq. To better understand, China alone had a domestic demand of about 7.4 million tonnes in 2024, which points out the colossal consumption base in Asia compared to local export volumes.

Regionally, season factors such as monsoon rains and local festivals have slowed construction activity, leading to weaker purchasing behaviors in Malaysia, Vietnam, and neighboring countries. As a result, Singapore-origin bitumen material softened to $395–408 per tonne FOB by mid-October from around $4–5 lower than in the latter half of September. Similarly, South Korean port levels softened into the high $300s per tonne level. Market participants reported that many buyers preferred lower-priced Middle Eastern cargoes, as price differentials made them more competitive against Singaporean ones. Chinese National Day holidays in early October also reduced regional demand seasonally, keeping Chinese wholesale prices steady at CNY 3,300–3,700 per tonne (approximately USD $460–520/t).

Trade statistics remain to show increasing integration between Middle Eastern suppliers and Asian buyers. Vietnam, the biggest regional buyer, purchased approximately 1.14 million tonnes of bitumen in 2024, a 10% increase year on year. 382,000 tonnes were from the Middle East, up 49% y-o-y. Aggressive Iranian shipments, at levels about $130–180/t lower than Singapore levels near the close of Q3 2025, have gained traction despite high freight costs of about $120/t. While Singapore remained a dominant source, accounting for some 383,000 tonnes in Vietnamese imports during 2024, its market share has increasingly come under threat from Middle Eastern suppliers. Chinese and South Korean exports to Vietnam fell sharply.

Smaller Southeast Asian markets also are making significant contributions to regional trade volumes. The Philippines alone imported close to 51,000 tonnes of bitumen products in 2024 and Indonesia alone imported approximately 28,000 tonnes, showing the growing size of the region's demand footprint as infrastructure expansion continues to expand.

Briefly, October 2025 emphasized a period of moderate price fluctuation and shifting patterns of trade in the bitumen market. As seasonal slowdowns and oversupply relieved near-term demand later, though, increasing Middle Eastern export influence in Asia foretells an enhanced interregional connection. With infrastructure construction projects speeding up during the next several months, analysts foresee gradual stabilization and renewed trading pressure as construction activity surges in each region.

By Bitumenmag

Bitumen, News, Price, Market