Petroleum Bitumen Price | Current and Forecast
Monitor Petroleum Bitumen Prices Worldwide
See monthly Petroleum Bitumen prices in 5 locations: US, China, S. America, SE Asia, Africa, Europe, Middle East. Also check Petroleum Bitumen price history since 2007 and forecasts. Subscribe now to Intratec Primary Commodity Prices and gain access to current prices of 244 commodities, including Petroleum Bitumen.
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Data Legend. The Petroleum Bitumen price chart shows the prices in USA Dollar per metric ton (USD/mt) in 7 locations, as follows:
- US: transaction, cif
- China: spot, cfr
- S. America: transaction, fob, Brazil
- SE Asia: transaction, fob, Singapore
- Africa: transaction, fob, South Africa
- Europe: transaction, cif, France
- Middle East: transaction, fob, United Arab Emirates
Data Use. Petroleum Bitumen prices are provided as an annual subscription where subscribers have access to reliable pricing data of 244 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 .
Price Dynamics. The Petroleum Bitumen price in United States decreased during September 2018 to 421 USD per metric ton, which represents a decline of 5% compared to the previous month’s value. On a year-over-year basis, Petroleum Bitumen prices in United States increased significantly by 28%. Meanwhile, in China, the average price of Petroleum Bitumen amounted to 397 USD per metric ton, from 414 USD per metric ton one year earlier. On a month-over-month basis, the Petroleum Bitumen price in China is 5% lower than the price one month before.
The price of Petroleum Bitumen in Brazil declined slightly throughout September 2018, reaching 554 USD per metric ton. The price in Brazil is 2% lower than the average price in the previous month and 12% higher than the average price one year before. In contrast, Petroleum Bitumen prices in Singapore decreased modestly during September 2018, reaching 401 USD per metric ton, which means a decline of 2% from the previous month’s price and a rise of 36% from the previous year’s price.
The Petroleum Bitumen prices in South Africa experienced a significant decline of 35 USD per metric ton from the prior month's price, to 434 USD per metric ton. Such price movement in South Africa meant a decrease of 7% on a monthly basis and a rise of 24% on a yearly basis. On the other hand, in September 2018, the Petroleum Bitumen price in France witnessed a decline of 4 USD per metric ton when compared against the previous month's price, to 444 USD per metric ton. The September 2018 price in France is 42% higher than the price one year before.
In United Arab Emirates, the average price of Petroleum Bitumen was 368 USD per metric ton on September 2018 – a little decrease of 6 USD per metric ton, or 2%, compared with the previous month. On a year-over-year basis, the Petroleum Bitumen price in United Arab Emirates is 33% higher than the price one year before.
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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 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.
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)
The uses and applications of Petroleum Pitch may vary according to its specification. The main forms of Petroleum Pitch are penetration grade; viscosity grade; performance grade; cutback bitumen; emulsions; oxidized bitumen; asphalt cement (AC) grades; and aryl hydrocarbon (AH) grades.
Petroleum Pitch is mainly used in highways; roofing; paints; building waterproofing; road repairs; construction adhesives; tunnel linings; protective coatings; flooring membrane emulsions; and vehicle underbody sealants.
