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Bitumen / Asphalt
Overview
Global bitumen and asphalt spot prices are influenced by changing supply and demand fundamentals, VGO and crude prices. Argus is the only provider of global bitumen and asphalt spot prices assessed by a global team of reporters, based on market trade. Spot price coverage includes regional truck, rail and seaborne prices.
Latest bitumen / asphalt news
Browse the latest market moving news on the global bitumen and asphalt industry.
US asphalt imports to Brazil reach 5-year high
US asphalt imports to Brazil reach 5-year high
Sao Paulo, 18 June (Argus) — Brazilian asphalt imports from the US reached their highest level in the past decade in May after drier weather and competitive prices boosted demand. The US was the largest source of Brazilian asphalt imports in May, contributing to nearly 12,000 metric tonnes (t) or 61pc of all imports, according to Siscomex import and export data. The last time Brazil imported so much from the US was in January 2023, when 10,800t arrived at Brazilian ports. In April, the US Gulf's premium over Mediterranean asphalt reached its narrowest point in 2024 at about $7/st, which can explain why imports rose in May. Precipitation levels were also 60pc lower in some regions of the country during April and May, according to Brazil's National Meteorology Institute, which boosted paving projects. Total asphalt imports in Brazil increased by almost 10 times in May compared with April. Asphalt imports totaled 19,500t in May, which is 28pc higher compared with May 2023. Imports from January to May were almost 80,000t, 46pc more than the same period in 2023. This is because of municipal elections in October, which results in more road projects to appeal to voters. Russia was the source for around 5,300t of asphalt imports in May. Most Russian imports tend to be polymer modified asphalt (PMA), a dry bulk product that costs on average 15pc more than liquid asphalt because of the energy costs required to reheat it to a liquid state. Although it costs more, solid asphalt is used as an alternative in markets without the infrastructure to receive and store liquid asphalt, such as in southern Brazil. By Julio Viana Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Elections weigh on India’s bitumen consumption in May
Elections weigh on India’s bitumen consumption in May
Singapore, 18 June (Argus) — Bitumen consumption in India fell by 6pc on the year in May, mainly because of the country's national elections and a looming monsoon season. The country used 816,000t of bitumen last month, lower than 864,000t a year earlier and down by 2pc from 831,000t in April, according to latest preliminary oil ministry data. Road-paving activities slowed down last month as government officials were busy with election duties, while road contractors and labours took breaks to cast their votes. Pre-monsoon showers in parts of the country and prolonged delays in disbursement of project funds from state governments also weighed on consumption. But the drop in consumption did not surprise importers and dealers as they had already anticipated this earlier in the month. A few Indian refiners experienced higher inventories and had to slash their listed prices to attract more buying interest. State refiners in Mumbai cut listed VG10 and VG30 bulk cargo prices by 3,360 rupees/t ($40.30/t) for the second half of May, from the previous two-week period. They had reduced listed prices by only Rs100/t for the previous fortnight. Listed prices continued to fall in June as some refiners tried to liquidate more volumes before the monsoon season become widespread. But it remains to be seen if this will boost demand and how significant that change would be, market participants said, adding that consumption is likely to be lacklustre until September. Lackluster consumption to pressure imports The lower consumption leading up to May also led to a dip in import sentiment, as inventories in the region were mostly sufficient or higher. Importers were also cautious about accumulating excess supplies as conditions get wetter ahead of the onset of the monsoon season. India imported 270,000t of bitumen in April, compared to 275,000t in March and 360,000t in April 2023, according to oil ministry data. Argus estimates that India purchased at least 93,000t of prompt-loading VG40 bulk cargoes from the Middle East in May. Consumption and import levels are likely to continue going down in the coming months, market participants said. They also warned of some state budget cuts that came about because of the government elections, meaning there is less money for councils to maintain or build roads. Importers are still trying to liquidate existing inventories, with some reporting higher stocks in Kandla, Mangalore and Karwar. Several said there were also delays in delivery of seaborne material, with around five vessels held up owing to maintenance works, although this cannot be confirmed. But Middle East-origin seaborne bulk prices did not ease despite lacklustre import demand from key consuming India. Argus assessed weekly fob Iran bulk prices at $287.30/t for the week of 14 June, up by $6.30/t from the previous week's assessment. Export prices were firm on the back of tight supply in the Middle East, especially for VG40 grade cargoes. By Chloe Choo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Possible Canadian rail strike start delayed again
Possible Canadian rail strike start delayed again
Washington, 31 May (Argus) — The start of a threatened strike by some union workers at Canadian National (CN) and Canadian Pacific Kansas City (CPKC) has been pushed back again as concerns about fuel and food supplies rise. If it goes forward, the strike would begin sometime after 17 June at the earliest. The Canada Industrial Relations Board (CIRB), which is investigating federal government concerns, has postponed reply comments to 14 June from 31 May. Original comments were due by 21 May. If CIRB ruled on 15 June, the Teamsters Canada Rail Conference (TCRC) would have to provide three days' notice to CN and CPKC before workers could strike. But a strike may still may not occur for another 60 days . If CIRB issues any orders, the parties would likely not be in a position for a strike or lockout to begin for two months, CPKC said on 16 May. TCRC members had authorized a strike to start as early as 22 May. The railroads and union met with CIRB on Monday and discussed the comments filed by groups that could be affected by a strike. Canadian minister of labour Seamus O'Regan asked CIRB earlier this month to consider requiring some rail service to continue in the event of a strike to help avoid health and safety issues related to propane supply. A number of concerns arising from the comments have been identified, with many focused on the impact to commercial and economic interests, CIRB said. The theme of certain comments concerned delivery of supplies of propane and diesel to critical areas, including and remote communities in northern British Columbia. Transportation also is important to the province of Manitoba which has been using rail to deliver fuel because of a Winnipeg products pipeline. Other comments focused on domestic and global food security. They noted some sectors are dependent on rail for transportation, such as fertilizer, potash and canola products, CIRB said. The potential, immediate impact on the supply of water treatment materials for several municipalities also was highlighted. Other commentators sought advance warning of strike, asking CIRB to provide notice of when a decision would be made or that there be an extension of the notice required before a strike or lockout. Negotiations between the railroads and TCRC continue. CN and the union will meet next week from 4-6 June. CPKC declined to comment on talks but met most recently with TCRC leadership between 15-21 May. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Shell to end bitumen truck flows from two French ports
Shell to end bitumen truck flows from two French ports
London, 30 May (Argus) — Shell will halt its bitumen truck supply arrangements into France from the country's Atlantic import terminals at Nantes and Bayonne with effect from the end of this year, several French buyers and other northwest European market participants said. Customers have been informed of the move by Shell, with one buyer told by the producer in a letter that the purpose of the move is to "improve performance and rationalise operations". Another French market participant said Shell had decided, with effect from the start of 2025, not to renew its longstanding throughput arrangements for cargo supply into and truck flows out of the two French Atlantic bitumen terminals. They are operated by Netherlands-based Alkion Terminals, alongside storage units holding several other oil, chemical and speciality products. A Shell official said the firm "does not comment publicly on its contractual positions, in terms of depots or others". The oil company is expected to continue exporting bitumen to France with a mixture of cargo, truck and barge supplies from its 404,000 b/d Pernis refinery in Rotterdam, its 187,000 b/d Godorf refinery in western Germany and from the 310,000 b/d Miro refinery in Karlsruhe, southwest Germany, in which it holds a 32.25pc stake. Nearly all bitumen cargoes shipped to Nantes last year — totalling 65,000t — were sourced from Shell production and stocks held in the Rotterdam area, while around half of the Bayonne imports of 113,000t originated from the same Shell supply points. Shell's withdrawal from bitumen throughput and truck supply arrangements through the Atlantic coast terminals follows the firm's decision earlier this year to cease retail truck supply of bitumen into South Africa . There Shell plans instead to ship bitumen cargoes into the country's ports that will be offered to local importers on a delivered (CFR) basis. By Keyvan Hedvat and Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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