China Bitumen Trade Report 2025 – Latest Market Prices & Export News
The China bitumen trade market is experiencing notable changes in 2025. In this article, we analyze the latest bitumen prices, supply trends, and export developments in China. Based on up-to-date industry sources such as Mysteel, Reuters, Argus, and S&P Global Platts, you will find everything important about the China bitumen trade and its impact on the global market.
Bitumen Price Fluctuations in China – May 2025
According to the daily Mysteel OilChem report, China’s average wholesale price of heavy traffic bitumen reached around RMB 3,631 per ton on May 27, 2025. Throughout the preceding week, prices showed minor but consistent upward movement. Futures prices on the Shanghai Exchange remained stable, hovering between RMB 3,370 and 3,400/ton during mid-May. This reflects the dynamic nature of the China bitumen trade this season.
- Reduced availability of low-priced spot cargoes, which were quickly absorbed by the market.
- Cutbacks in production due to scheduled maintenance and tightening profit margins among refiners.
- Seasonal demand recovery, as summer construction projects gather momentum.
Production and Supply Trends
Reports indicate that operating rates at major bitumen refineries in China declined to 28.9% by May 21, 2025. Weekly bitumen output dropped to approximately 465,000 tons, a notable 14% week-on-week decrease. Despite supply-side constraints, demand is expected to rise as infrastructure projects continue to support the China bitumen trade.
Construction companies in China use a range of bitumen grades, such as
Bitumen 60/70,
Bitumen 80/100,
and Bitumen 85/100
for road paving and infrastructure projects.
China Bitumen Trade: Import & Export Trends
While China is a major bitumen producer, it also imports large volumes of heavy feedstocks such as fuel oil and “bitumen blend” for independent “teapot” refiners. Recently, the China bitumen trade has seen significant shifts in sourcing these feedstocks.
For details, see the full Reuters report.
Bitumen Blend Imports – The Venezuela/Brazil Connection
From July 2024 to March 2025, China imported around 2.7 million tons of bitumen blend “from Brazil,” but most of these cargoes originated in Venezuela and were rebranded or rerouted to bypass official oil import quotas. This affects both regional prices and the transparency of the China bitumen trade.
Iran’s Role in China Bitumen Trade
Iran remains a significant player in the China bitumen trade, especially through competitive pricing. For example, the FOB price of Iranian bitumen in early May 2025 was about $342.5 per ton, about $27.5/ton lower than Bahrain’s official FOB price. Major Iranian export grades include
Bitumen 115/15
and
Bitumen 150/5.
Russian Supplies and “Teapot” Refiners
Russia is another major supplier of heavy feedstocks to China. However, recent changes in Chinese tax policy have significantly affected the China bitumen trade. Since January 2025, tax rebates for fuel oil imports were cut, and stricter enforcement of import quotas forced several refiners to halt or cut back operations.
Policy Developments and Market Outlook
China’s dual approach – curbing “unconventional” imports while boosting infrastructure investment – keeps the China bitumen trade balanced. Government support for infrastructure projects is expected to drive higher bitumen consumption in the second half of 2025. High-demand products for projects include
Bitumen MC-30,
Bitumen Emulsion SS-1,
and
Bitumen Emulsion CSS-1.
Conclusion
In summary, China bitumen trade has shown moderate gains in late May 2025 amid tighter domestic supply, reduced imports of low-cost feedstocks, and improving seasonal demand. The market remains highly sensitive to policy shifts and international supply chain developments. For more on China bitumen trade and global bitumen trends, follow our latest updates.
References:
– Mysteel.net (Daily OilChem Bitumen Report, May 2025)
– Reuters (Venezuelan oil flows to China, Shandong teapot refinery shutdowns, 2025)
– Argus Media (Bitumen market and price updates, May 2025)
– S&P Global Platts (Asia bitumen and fuel oil market commentary, Q2 2025)