Bitumen prices rise Again
When crude oil prices were over 100 USD per barrel, Iran’s bitumen prices were in the range of 500 USD to 600 USD/MT on a FOB basis. As crude oil prices took a barrish turn so did bitumen prices. It should come at no surprise to bitumen importers that as crude oil prices increase so will Bitumen rates.
This recent 8.00 USD/MT price increase in raw materials to produce bitumen in addition to the 67.00 USD from last month equal 76.00 USD/MT total in price increases. This is mainly the outcome of the bullish prices of crude oil rates.