Petroleum Bitumen Prices | Current and Forecast
Monitor Petroleum Bitumen Prices Worldwide
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Monitor monthly Petroleum Bitumen price assessments covering 4 locations: United States, Europe, Southeast Asia and China. Also check Petroleum Bitumen 10-year price history and forecasts.
The chart below is a sample of Intratec Primary Commodity Prices. Subscribe and access now current prices of 225 commodities, including Petroleum Bitumen.
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 225 commodities worldwide. Intratec's methodology employs a structured big data strategy that utilizes advanced technologies to extract publicly available data from primary sources such as governmental trade records, statistics bureaus, and international agencies. This data is then processed through mathematical models to generate reliable assessments, published at the very beginning of each month. To better understand the data provided check Intratec Primary Commodity Prices Methodology .
Data Delivery Methods. Petroleum Bitumen price assessments are available via different delivery methods: (i) online charts; (ii) directly into Excel (using Intratec Add-in); (iii) in Power BI dashboards or (iv) a web API (to facilitate integration with existing workflows).
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Track global current prices of 225 commodities including Petroleum Bitumen
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Petroleum Bitumen Price Outlook. The price of Petroleum Bitumen (United States) decreased during March 2020 to 344 USD per metric ton, which represents a slight decline of 0.6% compared to the previous month’s value. On a year-over-year basis, the prices of Petroleum Bitumen (United States) decreased significantly by 12%. Meanwhile, the average price of Petroleum Bitumen (China) amounted to 463 USD per metric ton, from 538 USD per metric ton one year earlier. On a month-over-month basis, the price of Petroleum Bitumen (China) is 5% lower than the price one month before.
The price of Petroleum Bitumen (Southeast Asia) declined throughout March 2020, reaching 442 USD per metric ton. The price is 6% lower than the average price in the previous month and 15% lower than the average price one year before. In contrast, the prices of Petroleum Bitumen (Europe) decreased significantly during March 2020, reaching 220 USD per metric ton, which means a decline of 19% from the previous month’s price and a decline of 40% 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).
