East Asia Bitumen Market Analysis: Oversupply and Weak Demand Keep Prices Under Pressure

The bitumen market in East Asia continued to face downward pressure over the past two weeks.
Weak regional demand, excess supply from key hubs, and the absence of new winter infrastructure projects shaped a cautious and defensive market environment.
In this analytical review, Infinity Galaxy highlights key developments in China, South Korea, Singapore, Indonesia, and Vietnam, while explaining how regional linkages reinforced the overall bearish trend.

China, Down, Buyer-Favored Market

The Chinese bitumen market recorded an estimated 4% decline compared to two weeks earlier. Market activity remained muted as infrastructure project launches slowed and government purchasing weakened noticeably.
Most buyers reduced spot buying and focused on short-term needs only. At the same time, steady supply flows from Singapore and South Korea continued to weigh on pricing sentiment. Sellers faced limited bargaining power, while buyers pushed for better terms.
For the coming period, the market is expected to remain soft, with supply pressure outweighing demand signals.

South Korea, Down, Defensive Conditions

South Korea saw a 4–5% decline over the past two weeks. Regional demand across East Asia weakened further, and winter conditions limited new project activity.
Additional downward pressure came from falling prices in Singapore and China, which influenced buyer expectations. Market participants adopted a defensive stance, prioritizing risk control over volume growth.
The near-term outlook remains slightly bearish, supported by weak demand and limited buying urgency.

Singapore, Down, Regional Price Leader

Singapore recorded an approximate 4% decline compared to two weeks ago, remaining the main bearish driver in East Asia.
High inventory levels and oversupply continued to dominate market dynamics. Buyers entered negotiations only at lower price levels, while sellers faced growing resistance in maintaining offers.
Singapore continues to act as the pricing reference and pressure point for the wider Southeast Asian market. The short-term trend is expected to stay downward, as inventory clearance will take time.

Indonesia: Slight Down, Relatively Resilient

Indonesia experienced a limited decline of around 1–2% over the two-week period. Domestic demand stayed relatively stable, supported by ongoing projects, although overall activity slowed.
Unlike other Southeast Asian markets, projects were delayed rather than fully halted, helping the market absorb supply more effectively. As a result, price movement remained controlled.
The outlook is stable to slightly down, with Indonesia continuing to show more resilience than regional peers.

Vietnam, Down, Market in Balance

Vietnam saw a 3–4% decline compared to two weeks ago. Buyers actively sought deeper discounts, while sellers showed reluctance to reduce prices further.
This created a suspended market environment, with slow negotiations and limited deal flow. Supply availability remained sufficient, but pricing expectations between buyers and sellers stayed misaligned.
The short-term outlook remains uncertain, leaning slightly bearish until clearer demand signals emerge.

Conclusion

Overall, the East Asian bitumen market remains under broad downward pressure, led by oversupply and weak infrastructure activity. Even relatively resilient markets such as Indonesia were unable to fully detach from the regional bearish trend.

Infinity Galaxy will continue to monitor market movements closely and share weekly analytical insights to support informed commercial decision-making.