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Petroleum Bitumen
Petroleum Bitumen Prices | Current and Forecast
Petroleum Bitumen
Petroleum Bitumen
Petroleum Bitumen

About Petroleum Bitumen. Petroleum Pitch (a.k.a. Bitumen) is a sticky, black, and highly viscous liquid or semi-solid. The terms bitumen and asphalt are commonly used interchangeably, and they can mean both natural and manufactured forms. Its main application is in road construction to create asphalt concrete. Other uses include the production of bituminous waterproof products that are designed to protect buildings.

Petroleum Bitumen Handling. Petroleum Pitch is stored in tanks with regular maintenance to clean off any buildup of deposits. If a tank is taken out of service for maintenance, it must be completely dry as any water will turn into steam when bitumen is delivered, and an explosion may happen. The risk of fire in the tank insolation cannot be ignored and it can happen through spillages or migration caused by hot spots. Regular emptying of the tank for cleaning and maintenance, replacement of worn insulation, and spillage control are crucial for the safe storage of the product.

Petroleum Bitumen Production. Raw materials and the respective production processes employed in the manufacturing of Petroleum Bitumen are listed below.

  • Long residue (vacuum distillation),
  • Short residue (solvent deasphalting),
  • Short residue (Duo-Sol process)

Petroleum Bitumen Uses. The uses and applications of Petroleum Bitumen may vary according to its specification. Since Petroleum Pitch is mostly employed in pavements, its most important forms are penetration grades ('Pen'), viscosity grades ('VG'), and performance grades ('PG'). The penetration grade category encompasses various subgrades, including Pen 30/40, 40/50, 50/70, 60/70, 70/100, 80/100, and 100/120, with each subgrade indicating a specific level of stiffness. Petroleum Bitumen viscosity grades are measures that indicate the viscosity or consistency of bituminous material. The numbers in the grade correspond to the Bitumen's average kinematic viscosity at 60 °C, in centistokes. The 'PG' grade classifies bituminous binders based on their rheological properties at high and intermediate temperatures. It includes two numbers, with the first representing the average 7-day maximum pavement temperature and the second indicating the minimum pavement temperature (negative values).

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Prices

Petroleum Bitumen Prices | Current and Forecast

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Monitor monthly Petroleum Bitumen price assessments covering 4 locations: United States, Europe, Southeast Asia and China. Also check Petroleum Bitumen price history since 2007 and forecasts.

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Petroleum Bitumen

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Data Legend. The chart above shows Petroleum Bitumen price assessments in USA Dollar per metric ton (USD/mt) in 4 locations, as follows:

  • Petroleum Bitumen (pg 64-22), US (United States): Petroleum Bitumen (pg 64-22), import transaction price, cif, United States
  • Petroleum Bitumen (pen 50/70), EUR (Europe): Petroleum Bitumen (pen 50/70), export transaction price, fob, Germany
  • Petroleum Bitumen (Pen), SEA (Southeast Asia): Petroleum Bitumen (penetration), spot price, fob, Singapore (netback from cif China)
  • Petroleum Bitumen (Pen), CN (China): Petroleum Bitumen (penetration), domestic spot price, exw, China

Data Use. Petroleum Bitumen prices are provided as an annual subscription where subscribers have access to reliable pricing data of 224 commodities worldwide. To better understand data provided by Intratec Primary Commodity Prices, check the following documents: Price Assessment Basis , Commodities Specifications , Methodology , User Guide , and Glossary .

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Petroleum Bitumen Price Outlook. The price of Petroleum Bitumen (United States) increased during April 2019 to 418 USD per metric ton, which represents a considerable rise of 7% compared to the previous month’s value. On a year-over-year basis, the prices of Petroleum Bitumen (United States) increased significantly by 15%. Meanwhile, the average price of Petroleum Bitumen (China) amounted to 544 USD per metric ton, from 442 USD per metric ton one year earlier. On a month-over-month basis, the price of Petroleum Bitumen (China) is 1% higher than the price one month before.

The price of Petroleum Bitumen (Southeast Asia) rose slightly throughout April 2019, reaching 397 USD per metric ton.  The price is 3% higher than the average price in the previous month and 21% higher than the average price one year before. In contrast, the prices of Petroleum Bitumen (Europe) increased modestly during April 2019, reaching 399 USD per metric ton, which means a rise of 2% from the previous month’s price and a rise of 17% from the previous year’s price. 

About Petroleum Bitumen. Petroleum Pitch (a.k.a. Bitumen) is a sticky, black, and highly viscous liquid or semi-solid. The terms bitumen and asphalt are commonly used interchangeably, and they can mean both natural and manufactured forms. Its main application is in road construction to create asphalt concrete. Other uses include the production of bituminous waterproof products that are designed to protect buildings.

Petroleum Bitumen Handling. Petroleum Pitch is stored in tanks with regular maintenance to clean off any buildup of deposits. If a tank is taken out of service for maintenance, it must be completely dry as any water will turn into steam when bitumen is delivered, and an explosion may happen. The risk of fire in the tank insolation cannot be ignored and it can happen through spillages or migration caused by hot spots. Regular emptying of the tank for cleaning and maintenance, replacement of worn insulation, and spillage control are crucial for the safe storage of the product.

Petroleum Bitumen Production. Raw materials and the respective production processes employed in the manufacturing of Petroleum Bitumen are listed below.

  • Long residue (vacuum distillation),
  • Short residue (solvent deasphalting),
  • Short residue (Duo-Sol process)

Petroleum Bitumen Uses. The uses and applications of Petroleum Bitumen may vary according to its specification. Since Petroleum Pitch is mostly employed in pavements, its most important forms are penetration grades ('Pen'), viscosity grades ('VG'), and performance grades ('PG'). The penetration grade category encompasses various subgrades, including Pen 30/40, 40/50, 50/70, 60/70, 70/100, 80/100, and 100/120, with each subgrade indicating a specific level of stiffness. Petroleum Bitumen viscosity grades are measures that indicate the viscosity or consistency of bituminous material. The numbers in the grade correspond to the Bitumen's average kinematic viscosity at 60 °C, in centistokes. The 'PG' grade classifies bituminous binders based on their rheological properties at high and intermediate temperatures. It includes two numbers, with the first representing the average 7-day maximum pavement temperature and the second indicating the minimum pavement temperature (negative values).

Intratec Methodology. Intratec Primary Commodity Prices are produced from a data-driven, mathematical approach, which starts with the extraction of data from various primary sources, including official trade records, statistics bureaus, governmental and international agencies. Such large volume of data is validated through advanced data processing techniques, and treated by means of statistical analysis for outliers removal. When faced with input gaps, data scientists and engineers employ mathematical models or machine learning techniques to estimate prices and ensure the completeness of the price assessments presented. (learn more ).

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