Bitumen Market Analysis on 2nd October 2020

Market analysis on 2nd October 2020, before a positive test of President Donald Trump.

USD value exceeded more than 30,000 Toman but as VB competed more than 25% during the last 4 days, it is improbable to see bitumen price at a fixed rate and there is no prediction about the plan of the government if they can control USD or not. If they can control it up to less than 26,000-27,000 Toman, bitumen price will increase by 30$/MT, but if they are unable to do so, it is possible to see more decrease in bitumen rate.

Razieh Gilani, account manager of Infinity Galaxy believes that the current status of the market shows that purchase should be done only in case there is a firm order, otherwise, it is not an appropriate situation to invest capital in the market of bitumen to make profits.

On the other hand, shipping lines have applied GRI which led to the increase of ocean freight. Also, the shortage of containers is another factor that makes the freight increase. So, the buyers should be very sensitive about their loading plans.

02 Oct. 2020_11 am

President Donald Trump and first lady Melania Trump test positive for Covid-19

This short news affected all the financial markets as well as oil prices, dropped between 1-6%.

In less than one month, the USA presidential election will be held and this piece of news made the political, international, and even internal situation of the USA more complicated. Razieh Gilani also declared that it seems that the best action within the next coming days, is only a “buying-selling” strategy in the field of oil products, especially bitumen, instead of investment before having any clear image of the future!

02 Oct. 2020- 19 pm

Market Analysis on 3^rd October 2020

On 3rd October, as President Donald Trump was hospitalized, oil prices and international stocks dropped one more time, but the market of Iran reacted in the opposite way.

Iran Stock Exchange faced a growth of up to 36,000 units and it seems that the USD has its highest value based on technical analyses and if the situation remains stable, the USD value will start to decrease.

With respect to the competitions on VB during the last week, if the USD value decreases against Iran Rial, bitumen price will increase significantly. 

Find the latest price of bitumen here.

03 Oct. 2020_ 12 am