Global Bitumen Price – Week 1 of September 2026

Global bitumen markets entered the first week of September with a sharply divided regional pattern. Iranian 60/70 prices moved sharply lower, with drum assessed at USD 340-350/MT, jumbo bag at USD 325-330/MT and flexi bag at USD 310-315/MT. Iraq moved higher, with jumbo bag increasing by USD 20/MT to USD 315/MT and drum rising by USD 15/MT to USD 330/MT. Turkey strengthened as well, Russia's import range edged higher, and Jebel Ali remained stable.

Asian markets moved in different directions. Singapore declined by USD 10/MT and Malaysia softened by USD 15/MT, while South Korea, China, Vietnam and Indonesia moved higher as September export availability tightened. India added USD 12/MT across all listed ports after the refinery-market revision, Australia rose USD 10/MT, and Thailand reset lower, with Bangkok and Laem Chabang converging near USD 590/MT CFR.

For import-dependent Colombo and Chittagong, the final assessments were revised down to USD 480 and USD 477/MT, respectively. The correction reflects the lower Iranian EXW base and current route economics, while freight, handling and shipment timing limited a full one-to-one pass-through. Brazil remained unchanged at USD 665–700/MT CFR Santos, South Africa showed lower Durban cargo pricing but firmer domestic bulk support, and Venezuela held steady across Jose, Puerto La Cruz and Amuay.

Europe was the weakest major region during the week. Lower Rotterdam, Spanish and Italian export benchmarks reduced Hamburg CFR values by USD 35/MT, Spanish port values by approximately USD 34-36/MT and Italian CFR values by USD 40/MT. Domestic German and Spanish ranges were recalibrated more sharply, while Italy's domestic market remained comparatively supported. Overall, the week was defined by regional divergence rather than a uniform global move.

Iran

Iranian 60/70 prices moved sharply lower in the first week of September. Drum was assessed at USD 340-350/MT and jumbo bag at USD 325-330/MT, while flexi bag was aligned at USD 310-315/MT to maintain the established packaging structure. Relative to the previous week's listed reference values, drum declined by USD 35-45/MT, jumbo bag by USD 40-45/MT and flexi bag by USD 40-45/MT.

Russia

Iran-origin cargo delivered to Novorossiysk edged up USD 5/MT to USD 625-655/MT, while the domestic BND bulk index held at USD 406/MT. The imported assessment diverged from the sharp decline in Iranian EXW prices, indicating that route-specific freight, availability and shipment timing remained influential. Russian refinery-market conditions moved only marginally during the week.

Singapore

Singapore softened by USD 10/MT, leaving bulk at USD 650/MT and drum at USD 720/MT. The bulk decline reflects weaker near-term regional demand, while the drum figure preserves the established USD 70 packaging premium. Both rows remain aligned with current Southeast Asian export conditions.

China

Chinese destination values rose by USD 8-10/MT and now sit between USD 625 and USD 635/MT. Firmer early-September wholesale and export indications supported the increase. Previous port-to-port differentials were retained, so the changes reflect a common regional movement without altering the relative structure of the table.

UAE

Jebel Ali values remained unchanged at USD 580/MT FOB and USD 590/MT CFR. Regional export and freight conditions did not move enough to justify a weekly adjustment. Keeping the previous USD 10 route differential maintains consistency between the two rows.

Sri Lanka

Colombo was revised to USD 480/MT, down USD 20/MT from the previous week's USD 500/MT assessment. The lower value better reflects the decline in Iranian EXW prices and current route economics. Freight, handling and shipment timing limited the pass-through, leaving the CFR decline smaller than the movement at origin.

Iraq

Iraqi bitumen prices strengthened during the week, with jumbo bag rising USD 20/MT from USD 295/MT to USD 315/MT and drum increasing USD 15/MT from USD 315/MT to USD 330/MT. The new values narrow the packaging differential from USD 20/MT to USD 15/MT. The movement reflects a firm but moderate upward adjustment, contrasting with the sharp decline in Iranian prices.

Turkey

Turkey strengthened across both formats. Jumbo bag rose USD 40/MT to USD 555/MT and drum rose USD 30/MT to USD 565/MT, narrowing the packaging premium to USD 10. The final values reflect firmer Mersin export conditions while preserving the listed specifications and basis.

Australia

Australia advanced USD 10/MT, taking Brisbane jumbo bags to USD 820/MT and drums to USD 845/MT. The adjustment retains the previous USD 25 packaging premium. The moderate rise reflects higher replacement costs rather than a major change in the delivered freight component.

South Korea

South Korea rose USD 45/MT to USD 580/MT. The increase reflects tighter September export availability following a comparatively low prior-week benchmark. The value remains a practical market proxy for the fixed PEN 60-80 bulk specification already used in the table.

India

All listed Indian ports increased USD 12/MT following the September refinery-market adjustment. Applying a uniform change preserves the existing freight and port differentials. The CFR values therefore move in parallel without changing the relative ranking of the eight destinations.

Malaysia

Malaysia declined USD 15/MT across all four listed ports. Port Klang remains the central anchor at USD 555/MT, while the previous spreads were preserved for Penang, Kota Kinabalu and Pasir Gudang. Soft demand and quiet regional trade support the moderate downward movement.

Vietnam

Vietnam strengthened, with Haiphong up USD 30/MT to USD 660/MT and Ho Chi Minh up USD 25/MT to USD 650/MT. Both destinations remain within the same workable CFR band. The higher Haiphong value preserves the previous relationship between the two ports.

Brazil

Brazil’s CFR Santos assessment remained unchanged at USD 665–700/MT. The sharp decline in Iranian EXW prices did not produce an immediate adjustment in the long-haul delivered range, where freight, insurance and shipment timing continued to limit short-term transmission. These factors kept the Santos assessment relatively wide.

South Africa

Durban drum cargo fell USD 22/MT to USD 883/MT, while domestic bulk moved slightly higher to USD 877-908/MT. The divergence is logical: imported cargo repriced lower while local supply constraints supported truck values. Incoming cargoes and restrained demand prevented a larger domestic increase.

Indonesia

Indonesian CFR levels moved higher, with Belawan at USD 660/MT, Jakarta at USD 670/MT and Surabaya at USD 680/MT. The existing port gradient was preserved. Weekly increases of USD 35-45/MT reflect firmer import replacement values and tighter September availability.

Bangladesh

Chittagong was revised to USD 477/MT, down USD 13/MT from the previous week's USD 490/MT assessment. The adjustment reflects lower Iran-linked replacement costs while retaining the delivered freight and handling component. The CFR movement is therefore smaller than the decline at the Iranian factory gate.

Thailand

Thailand was revised to USD 593/MT for Bangkok and USD 590/MT for Laem Chabang, with the tolerance retained at +/-5. Compared with the previous week, Bangkok declined by USD 77/MT and Laem Chabang by USD 35/MT. The new USD 3/MT port differential better aligns the two CFR assessments without changing the listed grade, packing or price basis.

Venezuela

Venezuelan FOB prices remained unchanged across Jose, Puerto La Cruz and Amuay. Terminal-specific values continue to reflect differences in refinery operations, cargo readiness and loading availability. Drum prices retain their established premium over bulk cargoes, with no sufficiently strong market signal to justify a weekly adjustment.

Germany

German CFR Hamburg drum and bulk values fell USD 35/MT as the Rotterdam benchmark softened. The domestic EXW range was recalibrated to USD 642-657/MT after currency conversion and lower market levels. The adjustment aligns export and domestic positions while retaining the drum-bulk differential.

Spain

Spain softened by approximately USD 35-37/MT. The national FOB reference moved lower, while previous Barcelona-Valencia differentials were maintained across the four CFR rows. The domestic truck range was reduced to USD 639-657/MT, keeping the changes consistent across ports and delivery formats.

Italy

Italian CFR values declined USD 40/MT, with the established Genoa and La Spezia differentials preserved. Domestic bulk eased less sharply to USD 575-593/MT because local values remained comparatively supported. This explains the smaller domestic movement relative to export cargo pricing.