Weekly Bitumen Report: Fundamental Changes in Favor of Price Increase

Political and economic earthquakes have happened during the last week, and Trump’s entry into the White House is approaching. On Tuesday, the early resignation of Justin Trudeau surprised everyone. Later, in his speech, Donald Trump requested to rename the Gulf of Mexico to the Gulf of America and to control the Panama Canal by the United States which raised global worries in all areas.

In Asia, the war between Russia and Ukraine is still going on and there are no significant changes. The Middle East is still struggling with the war between Israel and Hamas. Despite the attempts to release the captive, no success has been obtained till now. In the meantime, once again Donald Trump threa

The missile strikes between Yemen and Israel have also continued, and Israel has bombed various centers of the Yemeni Houthis.

In the last week, Brent crude oil prices exceeded $75 as a result of a new cold wave in the Northern Hemisphere and a rise in demand from China. Singapore’s 180 CST closed at $455.
Bitumen prices in Singapore and South Korea were observed at the level of $415 and $400.
In the first week of 2025, Bahrain’s bitumen price is still fixed at $395.
The range of bitumen prices in Europe was $415-450.

The price of bitumen in India, which saw a slight increase at the beginning of 2025, is likely to undergo a correction of about $3 to $6 due to the weakening of the rupee against the dollar. It appears that if the current demand trend continues, India's purchasing situation in 2025 will be better compared to 2024.

In the last week, the dollar followed a stable trend in Iran and the refineries competed up to about %29 to purchase vacuum bottom and the bitumen prices fluctuated in their same previous levels.

It seems that with Trump's arrival in the White House, we should expect more fundamental events in the market.

To check the latest bitumen prices of different destinations, please check the bitumen price today page.

This article was prepared by Razieh Gilani, the export manager of Infinity Galaxy.