Global Bitumen Price – Week 3 of August 2026

The Middle East shows a generally softer producer tone this week, led by lower Iranian factory-level pricing and a weaker export indication from Turkey. The UAE remains comparatively stable as re-export costs and Gulf logistics absorb part of the upstream weakness. Iraq also appears softer at the producer level, while Russia continues to show a clear separation between domestic refinery pricing and the much higher economics of imported Iran-origin cargo.

Asia-Pacific is mixed but mostly orderly. Singapore, Australia, South Korea and Indonesia remain broadly stable, while China and India show modest firming across their market indications. Malaysia has softened more visibly as the regional price anchor was revised lower, whereas Vietnam is slightly firmer. Thailand stands out as a firmer landed market, although the move is better understood as a re-basing of the prior assessment than as a sudden weekly rally.

In the Atlantic and African markets, Brazil has eased modestly as softer Iranian-origin replacement costs feed into the Santos assessment, although long-haul freight limits the downside. South Africa remains firm, supported by freight, regional supply constraints and domestic replacement costs; the contrast with last week's published figure mainly reflects a correction to the previous assessment. Venezuela is also firmer, with terminal availability and export readiness driving the market.

Europe is comparatively stable. Spain is slightly softer, Italy is largely unchanged and Germany has a mixed to firmer tone depending on whether the market is viewed on an imported CFR or domestic EXW basis. Across the report, the direction of prices is more meaningful than a simple numerical comparison when the underlying basis changes, since EXW, FOB and CFR markets can move differently even within the same week.  

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Iran

Iranian bitumen shows a softer producer-level tone this week. The market is being shaped by cautious regional demand, competitive export offers and continued sensitivity to Gulf logistics. Because the current assessment is on an EXW basis, the week-on-week move should be read as a directional softening rather than a direct comparison with last week's FOB levels.

Russia

The Russian market remains split between imported cargo economics and domestic refinery pricing. Iran-origin material into Novorossiysk is broadly stable, while the domestic BND reference reflects a separate refinery-gate market. Freight, route risk, sanctions exposure and inland demand continue to keep the two pricing structures well apart.

Singapore

Singapore remains broadly stable, with only a mild softening in the bulk export market. The city-state continues to act as a regional trading and redistribution hub, so refinery availability, Southeast Asian demand and short-term cargo positioning remain the key drivers. Packaging continues to command a clear premium over bulk material.

China

China shows a modestly firmer tone this week across the main port indications. The movement appears benchmark-led rather than the result of identical physical trades at each destination. Regional demand, inland logistics, refinery supply and port-specific conditions continue to create differences in workable levels across the country.

UAE

The UAE market is broadly stable week on week. Softer Iranian producer pricing has not fully passed through to Jebel Ali, as re-export margins, handling costs and Gulf freight conditions continue to support the market. Short-term availability and loading schedules remain important for final workable offers.

Sri Lanka

Sri Lanka remains broadly stable with a slightly firmer delivered tone. As an import-dependent market, pricing continues to be highly sensitive to freight, shipment timing, supplier availability and payment terms. Regional supply changes are therefore often partly absorbed by logistics before reaching the Colombo market.

Iraq

Iraq shows a softer producer-level tone, although the current assessment is not directly comparable with last week's export basis. Local refinery availability, packaging costs and factory loading conditions remain the main drivers. Gulf logistics and export handling can still create a meaningful gap between factory and export-market indications.

Turkey

Turkey shows a clearly softer export tone this week, with direct FOB Mersin indications now centered on packed 60/70 cargoes. The updated levels point to stronger price competition from Turkish loading points, while packaging costs and shipment timing remain important for final workable offers. The assessment is now presented on a consistent FOB export basis for both jumbo bags and drums.

Australia

Australia is essentially stable, with a marginally softer delivered market. Long-haul freight, import dependence and limited nearby supply alternatives continue to dominate pricing. Small weekly changes in Asian supply are often diluted by shipping and delivery costs before they are reflected in Brisbane.

South Korea

South Korea remains broadly stable to slightly softer in the export market. Refinery allocation, vessel availability and demand from regional buyers continue to determine workable FOB levels. The market remains competitive relative to other Asian supply hubs, with no sign of a major week-on-week shift.

India

India shows a modestly firmer import tone across the listed ports. The movement is best viewed as a broad market re-centering rather than identical gains at every destination. Port charges, monsoon-related demand, refinery availability and inland logistics continue to create substantial differences between coastal markets.

Malaysia

Malaysia is noticeably softer than last week's assessment. The revised market reflects a lower regional pricing anchor and stronger competition among nearby suppliers rather than a uniform transactional decline at every port. Freight differences remain relatively small, while cargo timing and local distribution continue to shape final offers.

Vietnam

Vietnam has moved slightly firmer, but the market remains within a normal regional trading range. Construction demand, regional supply availability and delivery distance continue to support a small premium in the northern market. Final workable prices remain sensitive to shipment schedules, packaging and port-specific costs.

Brazil

Brazil has softened modestly this week. The market remains linked to Iranian-origin replacement economics, and lower producer pricing has created some downward pressure on the delivered indication. However, long-haul freight, insurance and transit exposure continue to limit the extent of the decline into Santos.

South Africa

South Africa is showing a firm market structure, with delivered and domestic replacement costs remaining elevated. The sharp difference from last week's published level reflects a correction to the earlier market assessment rather than a normal one-week surge. Freight, regional supply constraints and inland distribution costs continue to support prices.

Indonesia

Indonesia is broadly stable with a slightly firmer tone across the main import ports. Nearby Asian supply remains available, but freight and inter-island distribution continue to create local premiums. The domestic refinery-linked reference also provides a useful anchor for assessing imported replacement costs.

Bangladesh

Bangladesh is broadly stable to slightly firmer on a CFR import basis. Freight, port handling, financing conditions and construction demand remain the main drivers of imported material.

Thailand

Thailand is firmer than the previous week's delivered assessment, although the change should be treated as a market re-basing rather than a clean one-week rally. Export availability remains supportive, while routing, packaging and local delivery costs continue to create a wide gap between FOB and landed indications.

Venezuela

Venezuela shows a firmer export tone across the main terminals. Pricing continues to depend heavily on refinery operating conditions, terminal readiness and the availability of cargo for prompt lifting. Differences between Jose, Puerto La Cruz and Amuay reflect local supply conditions and short-term export capability.

Germany

Germany has a mixed to firmer market tone. Imported Hamburg indications and domestic truck pricing are being influenced by different logistics and replacement-cost structures, so they should not be read as directly interchangeable. North European supply, refinery balance and transport costs remain the main short-term drivers.

Spain

Spain is slightly softer this week. Mediterranean supply remains adequate, while import replacement costs and refinery availability are keeping the market relatively balanced. Barcelona and Valencia continue to trade within a close range, with logistics and delivery timing driving most of the difference.

Italy

Italy is broadly unchanged week on week. The market remains balanced between domestic refinery supply and imported Mediterranean replacement costs, with no major shift in availability. Freight, terminal conditions and cargo timing continue to influence the final workable level at Genoa and La Spezia.