WPB analysis indicates the Central Asian bitumen market in mid-August 2025 had varied price trends in Kazakhstan, Uzbekistan, and Russia. Kazakhstan experienced a sharp decline in local exchange quotations, while Uzbekistan continued the upward trend, and Russian sellers quoted a technical price increase on the basis of refinery turnarounds. Overall, regional market activity remained firm owing to sustained trading volumes and higher railway shipments over last year.
Kazakhstan
Between 11th and 18th August, the average market price of road bitumen in Kazakhstan decreased by 6.0% week on week to 206,600 tenge per ton in local currency or $377 per ton. Despite this weekly decline, prices remain 9.5% higher in tenge and 7.2% higher in USD compared to the beginning of 2025.
Year after year, the August average is 3.5% higher in tenge but 7.8% lower in USD, reflecting the moves in the exchange rate. The downward correction was largely driven by exchange trading, which had an average realized price of 148,100 tenge per ton. Producer bids remained unchanged at an average of 216,250 tenge per ton.
Total 27 transactions were executed on Kazakhstan's exchange market during the week with a combined volume of 5,500 tons. Traders traded predominantly Caspi Bitum's BND 70/100.
Uzbekistan
In Uzbekistan, exchange trading experienced a rise in price. The market price increased by 1.3% in soum and 1.5% in USD to 6.8 million soum per ton or $539 per ton. Prices are up by 16.9% in national currency and 20.1% in USD since the start of 2025 due to robust domestic demand and tighter supply.
Against the same period of 2024, existing prices are 1.5% higher in soum and 2.0% higher in USD. Market trade was static, with 26 transactions executed on the exchange for the week.
Total sales in exchange reached 1,400 tons, increasing week on week by 13.4%. During January-February 2025, Uzbekistan's exchange market sold 37,900 tons of bitumen, which is by 29.5% higher than in the indicated period last year, including 36,900 tons of road-grade bitumen (+30.9% compared to 2024).
Russia, Supply to Central Asia
Freight shipments of Russian bitumen to Central Asian destinations in the first half of August totaled 10,400 tons, a 9% increase month on month and a 17% year-on-year rise from August 2024. Total shipments during the period January-August totaled 184,800 tons, which was -3.6% lower than the 191,700 tons shipped during the same period last year.
The average selling price between Russian producers exporting to Central Asia rose 1.6% week-on-week at 29,200 rubles/ton (or 24,400 rubles/ton ex-VAT). In USD, this was equivalent to $305/ton (ex-VAT), reflecting local market action and exchange rate movement.
The price increase was technical in nature because of periodic outages at three refineries of RN-Bitum. Quotes in other Russian refineries remained unchanged.
Russian bitumen prices are up 2.6% in rubles and 30.9% in USD since the beginning of 2025 against the levels in January. On the year-to-year basis, however, the prices in rubles are 15.6% lower than in August 2024, and the prices denominated in USD are 5.3% less. This is contrary to the market last year, which began a long-lasting downward trend in mid-August 2024.
Conclusion
The August 2025 Central Asian bitumen market shows different regional trends. Kazakhstan was bearish pressured by exchange trade, Uzbekistan maintained a strong price increase on the back of increasing demand, and Russia's supply-driven change in the short run pushed export prices higher. As Russian rail exports widened and Uzbekistan trade volumes strengthened, the region is headed for stable near-term demand, though Kazakhstan's exchange-based volatility and Russian refinery maintenance can create uncertainty over the coming months.
By Bitumenmag
Bitumen, Price, Market
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