WEEKLY REVIEW OF BITUMEN MARKET IN THE WORLD Date: Jun 18 2023
- Category: News
- Published: Saturday, 14 October 2023 13:31
- Written by Super User
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Last week 149,000 MT VB were supplied in IME, by 195,900 MT increase, 252,000 MT demand were registered. In prior week, the supply rate soared by 119,000 MT clearly the whole amount was sold and weekly VB’s fluctuation rate was from 0% to 34.7-%. Due to outputs from all refineries except Tabriz, the amount of offers have increased. Furthermore, VB close price and IME’s export bitumen ratio reached 79%, also VB’s average value in Free Market USD assessed at 219$. In addition, VB’s value in the Center of Exchange Dollar Bill have reached 259$, showing 15$ decline in comparison to prior week.
Supplies in IME’s export market were around 68,000 MT and they were 24,600 MT more than the average of prior month. Due to offers from all huge refineries except Pars Behin Qeshm Oil total amount of supplies were soared considerably. For this amount of outputs, 37,900 MT demand were registered and as demand was weak, limited amount of supplies were traded. Considering the free market USD to IRR exchange rate, at published date, the bargained equivalent rates for Isfahan and Bandar Abbas Jey Oil Bulk Bitumen were 259$ and 291$ respectively. Furthermore, the rate for Jey Oil Drum Bitumen was 328$. Prices for Bandar Abbas and Abadan Pasargad Oil were 294$ and 273$ respectively.
The CEO of Imam Khomeini Oil Refinery Co., Majid Rajabi, in response to “what is the firm role in Tehran’s air pollution?” mentioned, “Our Company, is only produce and export fuel oil. However, it has been decided that the production of fuel oil will be halted and another valuable substance will replace it.”
The CEO of Municipal Department Housing and Urban Development referring to the latest stages of constructing brand new bitumen factories mentioned, “Factory No. 1 is in the final steps of testing, also gas and electricity branches were installed. Concrete flooring of new bitumen pool is done and the bunker could store approximately 3,000 MT of bitumen.