Bitumen Market has seen a volatile conditions in Iran and East Asia, since the end prices in east Asian ports was considerably lower than Iranian ports' FOB prices, many deals were stopped to proceed. While there is still hope for demand and supply to contradict each other again soon.
Thailand has exported/re-exported 35000 MT of Bitumen in August 2014
Indian Bitumen market prices remained same as previous months, CFR NSH prices between 505USD per MT up to 510 USD per MT for VG-30
China import of bitumen from South Korea comprises 66% of its total import during August 2014.
Singapore bitumen drums prices hike up by USD 10 PMT in October 2014 as compared to previous month price.
The USD-Rial rate helped the Bitumen prices down by 10 USD per MT in Iranian ports like Bandar Abbas FOB Basis. Economists hope the new rates remain unchanged since the 5+1 Negotiations for Nuclear conflict with Iran seems to take more time. the current rate is 32450 Rials for one USD.
The senior Iranian gas official said development of gas pipelines has engaged the Iranian state a