Iran bitumen prices remain

Bitumen Prices remain stable

Bitumen Prices remain stable ~   January 22nd 2018

Bitumen prices remained stable despite a 35,000 Toman bitumen price increase in the Stock Exchange. 35,000 Tomans is equal to 8.00 USD/MT which is passed onto consumers which import bitumen. However, because USD value in Iran is at a historic high, this has caused the price increase to be seemingly ineffective. Meaning the conversion of USD into Iran’s local currency has neutralized the much dredded price increase in bitumen value.  It is easy to view this price increase for raw materials also known as Vacuum Bottom as an adjustment to maintain the same level prices as the previous month.

 

 

Bitumen News 2018

Bitumen prices rise 12-23-2017

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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.