Global Bitumen Price – Week 4 of August 2026

Middle East pricing turned firmer at the producer level in Week 4. Iran rose by roughly $10–15/MT across packed 60/70 grades and Iraq gained about $10–15/MT, while Turkey rebounded much more sharply at Mersin. Jebel Ali edged about $5/MT higher as firmer Iranian factory prices were only partly passed through through re-export and logistics costs. Russia remained mixed, with the Iran-origin CFR Novorossiysk range easing slightly while the domestic BND refinery reference stayed unchanged.

Asia-Pacific was mostly firmer. Singapore recorded the strongest hub increase, China rose modestly across the listed CFR ports, and Australia and Sri Lanka also moved higher. South Korea was nearly unchanged, while India gained roughly $12-15/MT across its main ports as higher Gulf replacement costs passed through more directly. Malaysia, Vietnam, Indonesia, Bangladesh and Thailand all strengthened to varying degrees.

In the Atlantic and African markets, Brazil moved higher in line with the rise in Iran-origin replacement costs, with long-haul freight keeping the delivered range wide. South Africa's Durban drum indication firmed modestly, while the domestic 50/70 EXW range remains high but was corrected to a more realistic $870-905/MT. Venezuela moved about $5/MT lower across Jose, Puerto La Cruz and Amuay.

Europe remained comparatively stable. Hamburg import indications were unchanged, while Germany's domestic EXW range edged higher. Spain showed only a small increase in both CFR and domestic truck values, and Italy's port indications were flat with a slight rise in the EXW range. Overall, the week shows firmer Gulf- and Asia-linked markets but limited movement across most of Europe.

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Iran

Iranian factory prices moved higher week on week, with 60/70 drum up $10/MT, jumbo bag up $15/MT and flexi bag up $10/MT. The firmer producer tone is consistent with tighter export replacement costs, although final FOB levels can still differ materially once handling, freight and Gulf logistics are included.

Russia

Russia remains a two-tier market. The Iran-origin 60/70 CFR Novorossiysk range eased by about $5/MT to $620-650, while the domestic BND refinery-market reference stayed at $406/MT excluding VAT. Freight, sanctions exposure and route risk continue to keep imported and domestic values far apart.

Singapore

Singapore strengthened sharply this week. The 60/70 drum benchmark rose $30/MT and bulk gained $38/MT, reflecting firmer regional replacement costs and a higher trading-hub premium. The gap between packed and bulk material remains substantial because packaging, handling and short-haul redistribution costs are embedded in drum offers.

China

China moved modestly higher across the listed 60/70 CFR indications, with gains of roughly $5-11/MT depending on the port. The direction is consistent with firmer domestic 70# wholesale signals, although the domestic 70# assessment and imported 60/70 CFR indications are not identical grades or pricing bases.

UAE

The UAE market edged slightly higher this week, with 60/70 drum indications rising by about $5/MT at Jebel Ali. Firmer Iranian factory prices provided some upward pressure, although re-export margins, handling costs and Gulf logistics limited the full pass-through of upstream increases. Overall, Jebel Ali remains comparatively stable, with no indication of a sharp weekly price move.

Sri Lanka

Sri Lanka firmed by about $20/MT to $500/MT CFR Colombo. As an import-dependent market, Colombo is highly sensitive to Gulf and Asian replacement costs, freight and shipment timing. The weekly increase is therefore larger than in some Southeast Asian markets where local or nearby regional supply provides a stronger buffer.

Iraq

Iraq turned firmer at the factory gate. The 60/70 jumbo-bag indication rose $10/MT and the drum assessment increased $15/MT. Packaging costs and refinery loading conditions remain the main producer-level drivers, while export-market prices can sit materially higher once inland transport, border handling and freight are added.

Turkey

Turkey recorded one of the strongest weekly increases in the report, with both Mersin packed grades up $45/MT. The rebound brings jumbo bags to $515/MT and drums to $535/MT FOB. The move is best interpreted as a firmer export re-centering after the unusually soft Week 3 assessment.

Australia

Australia moved higher, with Brisbane drum material up $20/MT and jumbo bags up $30/MT. Long-haul freight and import dependence amplify changes in Asian replacement costs, so delivered Australian values can move more than nearby FOB benchmarks. Shipping availability and cargo timing remain important for the final landed price.

South Korea

South Korea was essentially stable, with the PEN 60-80 export benchmark rising only $3/MT to $535/MT FOB Yeosu/Ulsan. Refinery allocation and vessel availability remain balanced, and the market continues to function as a competitive Northeast Asian supply reference rather than showing a broad weekly price breakout.

India

India firmed broadly across all listed ports, with gains of roughly $12-15/MT from Week 3. The rise is strongest and most direct in western ports such as Kandla, Mundra and Nhava Sheva, where Gulf replacement costs transmit more quickly. East and south coast values remain higher because freight and port-specific logistics widen the landed spread.

Malaysia

Malaysia strengthened by about $10/MT across all four listed ports. The increase is smaller than in India because Malaysian buyers have broader access to Singapore, UAE and Chinese supply, which partially cushions changes in Iranian pricing. Port-to-port differences remain narrow and mainly reflect local freight and distribution costs.

Vietnam

Vietnam edged higher by $5/MT at both Haiphong and Ho Chi Minh City. The move is deliberately moderate because the market is supplied from several Asian and Gulf origins rather than being directly tied to Iran. Haiphong maintains a small premium over the south because of delivery distance and regional logistics.

Brazil

Brazil rose by about $15/MT to $665-700/MT CFR Santos, broadly matching the increase in the Iran-origin replacement cost used for this route. The long voyage from Bandar Abbas keeps freight, insurance and transit exposure large, so the delivered assessment remains a wide range rather than a single-point quote.

South Africa

South Africa remains firm. The Durban 60/70 drum indication increased $10/MT to $905/MT CFR, while the domestic 50/70 bulk-truck range is assessed at $870-905/MT EXW. The local market is supported by high replacement costs, regional supply constraints and inland distribution, but the domestic range should not be compared directly with imported drum cargoes.

Indonesia

Indonesia firmed by about $7/MT across Belawan, Jakarta and Surabaya. The increase is smaller than in Gulf-dependent markets because nearby Asian supply and domestic refinery-linked availability provide an alternative pricing anchor. Freight and inter-island distribution continue to preserve the premium from Belawan through Surabaya.

Bangladesh

Bangladesh rose by $13/MT to $490/MT CFR Chittagong. The market is more directly exposed to Gulf and Iran-linked supply than most Southeast Asian destinations, so a larger share of the upstream increase passes through to the landed price. Freight, financing and port handling remain important components of the final workable level.

Thailand

Thailand strengthened moderately, with both Bangkok and Laem Chabang up $8/MT. The increase is smaller than the move in Iran because Thailand is more closely tied to regional Asian supply and domestic availability. Bangkok continues to carry a sizeable premium over Laem Chabang because of delivery and local distribution economics.

Venezuela

Venezuela softened by about $5/MT across all three export terminals and both packaging bases. The move reflects a slightly weaker export tone rather than any linkage to higher Iranian prices. Refinery operating conditions, terminal readiness and prompt cargo availability remain the main drivers of differences between Jose, Puerto La Cruz and Amuay.

Germany

Germany was broadly stable. CFR Hamburg drum and bulk values were unchanged, while the domestic 50/70-70/100 EXW range edged up by roughly $3-4/MT. North European refinery balance and transport costs remain the key drivers, and the small domestic increase is more consistent with currency and local replacement-cost effects than a major bitumen rally.

Spain

Spain was stable to slightly firmer. Barcelona and Valencia CFR indications increased by only $2/MT, while the domestic bulk-truck range rose about $3/MT. Adequate Mediterranean supply continues to limit upside, with most of the weekly movement reflecting currency, logistics and replacement-cost adjustments rather than a material tightening in availability.

Italy

Italy remained essentially unchanged at Genoa and La Spezia, while the domestic EXW range rose about $3/MT. The market continues to balance refinery supply against Mediterranean replacement costs, with no major change in port availability. Freight, terminal conditions and the euro-dollar conversion remain the main short-term variables.