Instability in Iran’s bitumen market is reaching 2 months
Iran’s currency in comparison to the USD has reached a historic all-time low. It has lost at least 100% of its worth in most of the world’s none governmental vendors. Despite great effort by Iran’s respected Governing body to maintain its value at 4,200.00 Toman per 1.00 USD all across the board, today we can witness 1.00 USD being exchanged at 10,000.00 Toman. This conflict in value has caused a rift in Iran’s bitumen market. At the present Exporters are required to return the greater portion of their export revenue back into the Nation at Government approved exchange rates. This is in conflict with most of the importers expectations for competitive bitumen rates who depend on free market USD exchange rates to purchase their goods from Iran.
Iran’s respected Government and the business community are continuously working together to explore news ways to find workable solutions towards the new challenges caused by the unexpectedly rapid depreciation of our currency.
As a consequence of the Economic pressures imposed by foreign powers on Iran, many of the Shipping lines which operated from Iran have either momentarily stopped their operations or are preparing to do so. Of course, Iran’s shipping line IRSL is still active along with a few other shipping lines.
Many of the bitumen producers in Iran have either momentarily stopped their bitumen exports or have cancelled their pending orders. Presently we are taking bitumen inquiries on a case by case basis as both procuring bitumen and shipping it have become a challenge.
We look forward to a prompt resolution to all of this great Nation’s challenges and are optimistic and confident that it will overcome them and triumph over them.
If you have a bitumen inquiry or require relevant products from Iran’s petrochemical market please don’t hesitate to contact us.