Weekly Bitumen Report, 6 Jun 2025: Tariffs Suspended, Markets Even More So

Global Political & Economic Shifts

Over the past week, Washington’s rapid decision shifts once again shook the pulse of global markets. Trump extended the suspension of EU tariffs until June 9, by a phone call. However, just 24 hours later, the International Trade Court in New York announced that the White House had exceeded its authority in imposing the tariffs and must suspend all new tariffs within ten days, a rule that, if upheld in the appeals stage, could temporarily ease inflationary pressure on European and Asian imports.
At the same time, Trump’s threat last week to impose 500% tariffs on Russia if the Istanbul peace talks fail has forced Indian and Chinese refineries to quickly reassess their summer contracts.
In the Middle East, heavy Israeli attacks on Gaza continued, and the U.S. vetoed a draft permanent ceasefire resolution at the UN Security Council, an action that keeps the region’s geopolitical risk elevated.

East Asia Oil & Bitumen Market

On Thursday, oil prices remained around $65 per barrel. CST180 fuel oil reached $423, and Singapore bitumen and South Korean prices were recorded at $400 and $400, respectively.

Bahrain & Europe Bitumen Market

Bitumen prices in Bahrain have remained stable at $370 for over a month. Meanwhile, in Europe, the bitumen prices rose, reaching a range of $405 to $450.

India’s Bitumen Market Trends: Battle Between Refineries and the Monsoon

Last week, the governmental refineries gave the market a brief boost by slightly increasing prices and increased bitumen prices temporarily. However, early monsoon rains have put pressure on road construction demand. If the rains continue as forecast, prices in India are unlikely to rise.

China’s Bitumen Market Dynamics: Prices in a Stable Range

South China FOB prices of bitumen remained around 3,390 yuan per ton this week. Independent refinery margins are slightly positive but minimal, keeping prices in a stable range for the time being.

Iran’s Bitumen Market Outlook and conclusion

Ongoing negotiations between the U.S. and Iran have made it difficult to define a clear economic outlook for Iran. European sources report tangible progress in the fifth round of indirect talks in Oman between the two sides. An agreement that if finalized, could add up to 400,000 barrels per day to global supply and change price trends over the summer, although public statements from both Iran and the U.S. have been contradictory.
With the end of the truckers’ strike, export conditions may return to normal situations, though exporters are under increased pressure to meet prior commitments. For the time being, bitumen prices in Iran appear to be in a fragile state of stability, awaiting new signals for a possible rise.

This report was prepared by Razieh Gilani, the commercial deputy of Infinity Galaxy.

Talk to Our Bitumen Experts

At Infinity Galaxy, we’re here to answer any questions about buying bitumen. You can also check the latest bitumen prices by destination. Let us know your inquiry using the form below.