South Korea Bitumen Price

South Korea is one of the top five world bitumen exporters. There are four key oil refineries in South Korea that produce bitumen:

• SK Energy
• S-Oil
• GS-Caltex
• Hyundai Oilbank

Altogether, the maximum production capacity of these refineries is 7 million tons annually. South Korea bitumen exports increased between 2013 and 2017, peaking in 2017 when the country produced about 6.8 million tons and exported 5.9 million tons.

The amount of bitumen production and exportation has been declining since 2018. In 2021, production was approximately 1.5 million tons, with almost half a million tons exported.

The destination of 80% of South Korea’s bitumen exports is China. Japan, Australia, Vietnam, and Thailand are the next largest markets. South Korea imports 2.66 million barrels of crude oil daily to support this production, making it the fifth-largest crude importer globally, sourcing from the Middle East, America, Brazil, and Norway.

Bitumen Price in South Korea vs. Iran

The price of South Korea bitumen is higher than the price of Iran bitumen. Unlike South Korea, Iran produces bitumen from its own domestic crude oil resources without relying on imports. This allows Iran to offer highly competitive pricing while maintaining quality that meets international standards.

Below is a comparison of the FOB price of penetration bitumen 60/70 in Iran and East Asian countries like South Korea:

• Iran Bitumen Price Vs. South East Asia Countries

Why Infinity Galaxy?

Choosing Infinity Galaxy as your bitumen supplier guarantees quality, reliability, and 24/7 Support for your purchase:

• Consultancy and support in all steps of the purchase process
• Providing all required documents for each market to release the cargo easily
• Delivering cargo on time with the shortest possible transit time
• Flexible payment terms based on market and customer’s conditions
• Reasonable prices in line with high-quality products and services

Infinity Galaxy Bitumen Price

Infinity Galaxy is a bitumen and petrochemical supplier based in the Middle East. We provide bitumen from reliable refineries and deliver your cargo by trustworthy shipping lines.

Contact us if you have further questions about the latest bitumen price in your desired destination. You can get in touch with us by filling out the below form or via WhatsApp. Our support team will get back to you in 12 hours.