Navigating the Bitumen Market: Insights and Outlook - Weekly Highlights from Shalom International Trading
SHALOM INTERNATIONAL TRADING AND LOGISTICS
Specialize in importing and exporting a wide range of goods.
Dear LinkedIn Community,
In today's dynamic business landscape, staying informed about market trends is crucial for making informed decisions. Here at Shalom International Trading, we pride ourselves on providing timely insights into the ever-evolving bitumen market. Here are the highlights from our latest report:
?? Weekly Bitumen Market Highlights
??? 22 April 2024
1. Iran's Bitumen Prices Surge: Intense competition for vacuum bottom (VB) and rising production costs have led to price hikes in Iran.
2. Regional Production Constraints Drive Prices Up: Various regions are experiencing price increases due to production constraints and a seasonal uptick in demand.
3. Client Caution Amidst USD Fluctuations: Clients are delaying orders, seeking clarity on future price trends amidst fluctuating USD rates.
4. Resurgence in Malaysia's Bitumen Demand: Post-Hari Raya, Malaysia witnesses a resurgence in bitumen demand as construction projects restart.
5. Thailand's Paving Projects Fuel Domestic Consumption: Domestic bitumen consumption in Thailand accelerates with the initiation of road paving projects, bolstered by expectations of government funding.
6. North African Markets Resume Construction Activities: Post-Eid al Fitr, North African markets are back in action, resuming construction activities.
7. Stable Prices with Strong Demand in Africa: Prices remain stable, with Nigeria, Kenya, and South Africa driving demand through ongoing road projects.
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8. Firming of Singapore's Bitumen Prices: Singapore sees a slight firming of bitumen prices, with predictions of increased activity in the near future.
9. Severe Weather Affects Operations: Temporary port closures in southern Iran, UAE, and Oman due to severe weather conditions have affected operations.
10. Market Fundamentals Amidst Global Developments: A dip in crude oil prices, triggered by higher US crude inventories, refocused attention on market fundamentals amidst de-escalated tensions between Israel and Iran.
?? Our report aims to provide a clear snapshot of the current bitumen market trends and outlook. For more information or to discuss how Shalom International Trading can support your business needs, feel free to reach out to us:
?? WhatsApp: +971 50 786 5565
?? WeChat: Shalominternational
?? Email: [email protected]
Thank you for your attention, and we look forward to connecting with you soon.
Best Regards,
Shalom International Trading