Comparing Bitumen Prices in Iran, Middle East, China, and India: Insights from Argus Media Reports

Jul 22

2 min read

At Gulf Request, we consistently monitor market trends to provide our clients with the most accurate and up-to-date information. In our recent analysis, we compared Argus Media's bitumen reports from June 21, June 28, July 5, and July 12, 2024. This comparison reveals significant trends and fluctuations in bitumen prices across key regions, including Iran, the Middle East, China, and India.

Bitumen Price Trends

To provide a clearer picture, we have illustrated the price trends over the four weeks in the chart below:

Observations on Bitumen Price

Iran: Prices increased steadily from $300/MT on June 21 to $330/MT on July 12, reflecting strong domestic demand and robust export activities.
Middle East: Prices showed a moderate increase from $290/MT to $310/MT over the same period, influenced by regional supply adjustments and seasonal demand.
China: Prices rose from $280/MT to $310/MT, driven by significant infrastructure projects and import dependencies.
India: Prices escalated from $270/MT to $300/MT, supported by ongoing construction activities and increased import costs.

Accuracy of Argus Media's Forecasts

Based on our analysis, Argus Media's reports and forecasts have generally been accurate in capturing market trends and price movements. The predictions regarding price increases in response to higher demand and supply constraints were well-aligned with actual market developments. However, like any forecast, there were minor deviations due to unexpected market dynamics and external factors affecting supply chains.

Conclusion

Our comparative analysis of Argus Media reports highlights a consistent upward trend in bitumen prices across Iran, the Middle East, China, and India. These findings underscore the importance of staying informed about market trends to make strategic business decisions. At Gulf Request, we are committed to providing our clients with reliable and actionable insights to navigate the complexities of the bitumen market effectively.

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For the latest bitumen prices, visit Gulf Request's Bitumen Price Page.