Weekly Bitumen Report: Global Indecisiveness, Does Bitumen Market Pass the Shadow of War & Recession Successfully?

The Political and Economic Developments of the Week

Dead End in Ukraine, Fragile Hopes

The situation in Gaza is still critical; Hamas accepted the 60-day ceasefire on the condition of releasing half of the hostages, including hundreds of Palestinian prisoners. In return, several Israeli hostages and the corpses of the captives will be delivered to Israel.
Simultaneously, the challenging meeting between Trump and Putin in the common base of Alaska ended without any agreement on the end of the war. Later, Trump said, “It’s possible that he doesn’t want to make a deal”. He also emphasized that no American soldiers will be sent to Ukraine. After that, the heads of the European Union, along with Zelensky, met with Trump in the White House to reach a peace plan. According to CNN, Trump is planning a meeting between Putin and Zelensky.
It is reported that the interest rate in America will most likely drop in September, which is a sign of a reduction in America’s inflation.
For the first time in last 20 years, China faced with a significant decline in lending for the first time in 20 years; the amount of new loans decreased by 50 billion yuan, which was much lower than experts’ expectations and is a sign of weak demand in the private sector.

Crude and Fuel Oil Markets in East Asia

High Supply, Low Demand, Crude Oil in the Trap of Stability

During the last week, crude oil prices remained stable in the range of $65-67, showing indecisiveness in the Ukraine ceasefire talks. At the same time, IEA and EIA warned that crude oil supply in 2025 will grow much more than demand, and the inventories are about to be full, so the range of crude oil prices remained stable.
On August 21, Singapore 180CST closed at $401. Bitumen prices in Singapore and South Korea remained stable at $427 and $410, respectively.

Bitumen Market in Bahrain and Europe

Prices Stable; No Changes in the Market Yet

In Bahrain, bitumen prices are still fixed in the range of $400. The range of bitumen prices in Europe is observed at $400-450.

India Bitumen Market

Slight Surge in Prices, A Sign of Return to Market after Monsoon?

Despite the frequent fall in bitumen prices in Indian in the last 2 months, the local prices of India increased slightly during the last week, which can be a sign of changes in price trends in this market.

China Market

Cautious Stability, Looking for a Bright Future

The import prices in East China have remained stable, and it is expected that conditions in this market will improve soon.

Market Analysis of Iran

Aftershocks of War, Iran’s Market Still Shrouded in Recession

In Iran, the conditions of recession following the 12-day war between Iran and Israel continue to cast a shadow over the Middle East and Iran. Prices have not yet shown signs of growth, and exporters are struggling with numerous challenges. Hopes for improvement in conditions have increased in September, as the end of the monsoon season in India and some other countries is expected to lead to an increase in demand from East Asia.

Insight by Razieh Gilani from Infinity Galaxy

In the week when the world is suspended between hope for a ceasefire and the reality of the fruitlessness of the Ukraine war negotiations, energy and bitumen markets have also been in a state of uncertainty.
Crude oil oversupply, along with a slow trend of the economy in China and monsoon pressure in India, led to a weak demand for bitumen in most of the key markets. In Iran, the recession, logistical and financial issues following the war have made the export process more difficult.
In such circumstances, Infinity Galaxy helps its clients navigate their buying and selling processes based on real facts rather than market fear or excitement by monitoring international data in real-time and maintaining direct communication with target markets.

We remain committed to providing stability, transparency, and flexible export solutions for our business partners in any situation, even on days when the world fluctuates between war and peace.

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