East Asia Bitumen Market: A New Scenario Is Emerging in the Market

This report reflects market conditions updated as of 15 June 2026, including the latest developments in the Middle East. The announcement of a 60-day ceasefire framework between Iran and the United States has improved market sentiment and raised expectations for better shipping conditions through the Hormuz Strait. Brent crude opened the week near $83/bbl, indicating a partial easing of geopolitical risk. However, the actual impact on bitumen flows remains dependent on the recovery of vessel movements, insurance availability, port operations, and buyer confidence. For now, sentiment is more positive, but the market is still waiting for clear operational evidence of normalization across regional supply chains.

The East Asian bitumen market remained firm during the second week of June, with prices continuing to trend higher across several key origins. However, demand conditions remain uneven, and buyers across the region continue to prioritize availability, delivery schedules, and execution capability rather than price alone.

Current market indications show FOB Singapore at $589–600/MT, FOB South Korea at $554–568/MT, FOB Thailand at $585–595/MT, CFR East China at $600–615/MT, CFR South China at $630–640/MT, Malaysia ex-refinery at $705–710/MT, and Indonesia ex-works at approximately $802/MT.

China

Chinese prices continued to strengthen, with East China assessed at $600–615/MT and South China at $630–640/MT. Demand remains present, but buyers continue to compare origin, pricing, and delivery schedules before committing to purchases. Market activity remains selective despite firmer price levels.

Malaysia

Market sentiment remains cautious. Road construction activity is limited by seasonal rainfall, while domestic supply remains sufficient to cover current demand. Buyers continue to focus on competitive and workable supply options rather than aggressive purchasing.

Singapore

FOB Singapore increased to $589–600/MT, supported by limited spot availability and ongoing production constraints. Despite firmer pricing, regional demand remains mixed, with buyers in several Southeast Asian markets still resisting higher offers.

South Korea

FOB South Korea strengthened to $554–568/MT. Supply remains tight, and limited July-loading availability continues to support market sentiment. South Korea remains an important source for Northeast Asian buyers, particularly those targeting the Chinese market.

Vietnam

Buying activity remains subdued. High inventories, slow project execution, and weather-related disruptions continue to limit seaborne demand. Buyers remain highly price-sensitive and focused only on competitive and executable offers.

Indonesia

Indonesia remains supported by restocking demand ahead of July loading programs. Import activity has improved, but buying interest is still largely inventory-driven rather than demand-led. Purchasing decisions remain highly sensitive to timing and stock levels.

Thailand

FOB Thailand is assessed at $585–595/MT. Although supply remains constrained by feedstock limitations, Thailand continues to attract attention as an alternative origin, especially when availability from Singapore and South Korea tightens.

Insight by Taraneh Naraghi from Infinity galaxy

The East Asian bitumen market remains supported by firm price levels and tight supply conditions in several key origins. However, demand across the region remains selective, and buyers continue to prioritize cargo availability, execution capability, and delivery timing over headline price levels. As a result, selecting the right origin remains just as important as securing the right price.