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News
A word from the Editor: This News section consists of important events which have occurred in the recent past or of events which in all probability will occur. By visiting this section often, our viewers can take advantage of approaching measures before they transpire.
Iran Bitumen News
August 2, 2010
Iran Bitumen prices for Bulk Bitumen have been moderately stable for the past one and a half months in the IME Exchange. More complaints are surfacing out of China and Pakistan against Mixed Bitumen Suppliers in Iran. We have new Footage and Pictures which Exposes this ongoing Scam, which will be posted on our Iran Bitumen Website shortly. We urge Iran Bitumen Buyers to Evaluate the actual costs incurred by their suppliers before basing the Success of their Purchase on having been able to obtain a magnificently lower rate than from all other Suppliers.
Please click on Warnings on our Home Page for more details about Mixed Bitumen Suppliers and check for our latest update shortly after. Mixed Bitumen Suppliers may Mix Water, Sand, Gilsonite, Mazut or any other product they may be able to attain which resembles Bitumen and may go undetected at first glance. They may also use the lowest quality second hands drums to maximize their profit margin.
Price Validity and Spring Break.
March 13th 2010
Be informed the validity of Bitumen offers expired Tuesday March 16th 2010, as this was the that last opportunity Bitumen Exporters had to purchase Bitumen from the Stock Exchange before the Iranian New Year.
The Iranian New year is on March 21st 2010 which equates to the first day of Spring. There is a traditional 13 day break and work for most company’s resumes within a day or two after.
Unfotunately, this year unlike the past several years Bitumen rates did not fall during the winter but instead it maintained the same price level. After the Iranian New Year, bitumen prices may begin increasing as Domestic and Government Road Construction Projects requiring Bitumen will be commencing. Such projects will drive the National usage of Bitumen in Iran up, creating shortages of it in the Export Sector, which will create competition for available supplies in Iran’s IME Stock Exchange.
Shipping Rates on the Rise?
After the Iranian New Year it is very likely that Shipping costs will rise from Bandar Abbas port in Iran by up to 20%. This is mainly owed to the fact that Exports from Iran after the Economic Crises have excelled within the range of percentage stated above, which has created a shortage for available Containers and in turn will drive prices higher.
Chittagong and Mongala Bangladesh Advisement.
Very Recently, there have been many inquiries reaching us from Chittagong Bangladesh and because this market is price driven and normally Iranian Bitumen rates for 100% pure NIOC Bitumen are not competitive there, we urge Traders and Buyers to take the necessary measures to protect themselves against offers containing unrealistically low rates which usually are not honored or where very low quality Bitumen is sent instead. The normal price range for Chittagong Bangladesh is between 530.00 to 540.00 USD per Metric Ton.
What is Eid Nowruz, also referred to as the Iranian New Year?
According to Wikipedia, Nowruz marks the first day of spring and the beginning of the year in the Iranian Calender. It is celebrated on the day of the astronomical Vernal Equinox which usually occurs on March 21 or the previous/following day depending on where it is observed. As well as being a Zoroastrian holiday and having significance amongst the Zoroastrian ancestors of modern Iranians, the same time is celebrated in the Indian sub-continent as the New Year. The moment the Sun crosses the Celestial Equator and equalizes night and day is calculated exactly every year and Iranian families gather together to observe the rituals.
We wish all of those which Celebrate Eid Nowruz 1389 a prosperous New Year full of health and success.
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Bitumen Prices Increase After Several Weeks of Stillness
December 9, 2009
After more than a few weeks of stillness, Bulk Bitumen rates climbed 10.00 USD per metric ton. Despite this effect we have resisted this price increase and have not allowed it to interrupt any ongoing negotiations and have maintained our Bitumen rates at levels prior to the increase which occurred on Tuesday December 8, 2009. Generally, this is the best time of the year to purchase Bitumen as availability is high and prices are relatively low.
This tide may shift if Bitumen sales boost in Iran as we have witnessed its effects in the latest price increase. Generally those which are part of the first wave of importers during this season benefit additionally as their purchases will force suppliers to compete against each other over availability of supplies and face higher prices.
In Iran Bulk Bitumen is sold to packaging factories, and businesses alike STRICTLY through the stock exchange mechanism which involves bidding and outbidding one another and unless there are low sales during a certain period security for prices does not exist. In other words, when bitumen sales fall or climb so will Bitumen prices in relation. The more sales increase the more prices rise.
Again, we warn consumers of Bitumen who are only basing the success of their purchase on the loweset rate obtained. Read the Warning section on our Home Page regarding the dangers of purchasing Mixed Bitumen. The information containted in that section is critical to the future and result of your construction project(s).
Bitumen Prices Stabilize for the Second week
October 9, 2009
After rising eight weeks Bulk Bitumen rates slowed to a halt and have been steady for the past two weeks which has been a relief to both supplier and importers. The likelihood of a drop in Bitumen prices is imminent however this normally takes place near at the end of the month of December.
Delays of Bulk Bitumen deliveries from the refineries to their clients are still continuing and in some cases it has been reported that deliveries are taking approximately one month to complete.
Warning!
When making your purchase make certain you are obtaining 100% Petroleum Based Bitumen without any impurities. A very small group of traders are cutting corners to reduce their costs.
Bitumen Rates Continue to Rise
August 14th 2009
Bitumen rates continue to ascend and presently stand at 45.00 USD per MT in increases in the past four weeks. Bitumen prices are speculated to rise until Mid November to early December and from that point they are expected to decline until the month of April. Between these months it is the best time to purchase Bitumen as availability is high and prices are more affordable.
Unfortunately, the Stock Exchange rule for the purchase of Bitumen has recently been revised. Unlike the past, presently suppliers are allowed to make their purchases on Tuesdays only, which is consequently the date which Bulk Bitumen prices are revised. Aside from Tuesdays which set the precedent for the entire week, unlike the past suppliers were able to make their purchases during the week as well, however presently the only date transactions are made on now is only from Tuesday to Tuesday. For us this means all prices are subject to the next Tuesday’s Stock Exchange Bulk rates.
We advise you to email us and request more literature on the dangers of purchasing Mixed Bitumen or visit our home page for more information and click on Bitumen Alert.
Bitumen Prices Begin their Climb
June 21 2009
Bulk Bitumen prices sold at nearly 290.00 USD per MT in the Stock Exchange. One reason for this slight price increase was the elevation of Crude Oil prices ever since they plummeted nearly 200.00 USD per MT. Another factor is the further drop in the value of the United Sates Dollar (USD). As History has shown if Bitumen demand is high and Crude Oil prices fall it doesn’t necessarily mean a decline in Iranian Bitumen rates will occur.
As we move towards the summer which Starts June 22nd 2009 the heat will elevate and so may Bitumen rates as more Domestic and Foreign Road Construction Projects will commence creating a shortage in Bitumen Supplies around the world.
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