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Bitumen Price

What are the Factors Affecting Bitumen Price?

 

Bitumen is derived from Crude oil, so changes in crude oil prices has direct significant impact on bitumen prices which is on its own influenced by many factors in Global Market (as clarified in our page). Bitumen and asphalt  products have a wide range of fluctuations in prices based on the specification and quality of the product also. Bitumen price is usually influenced by various factors, such as Crude Oil Price, Vacuum Bottom price (that is raw material taken from oil for bitumen production), Energy costs, increasing workers salary, transportation and petrol price.

Another main factor impacting Bitumen price is the Supply and Demand market in Global World. This supply and Demand is also seasonal. Mostly in the construction and renovation season which is spring and summer the demand is higher normally, so eventually bitumen price confronts price increase.  

 

Next factor influencing overall bitumen price especially for export, is the prices of additives necessary for manufacturing the end bitumen product such as Styrene, Styrene-Butadiene-Styrene additives. At the end, it is necessary to say that other factors affecting Bitumen price are transport charges, freight costs, international container costs, etc. 

Is it possible to Anticipate Bitumen Price in the Market?

As Bitumen price is influenced by many factors, it is necessary to take all the factors into consideration. The main factor which is affecting other elements is the Oil price market. When oil price is increased or decreased in Global market, relatively the price of all the derivations taken from oil will be influenced. One of dominant price changes affects Bitumen price. So, it is some how possible to follow oil price market to check the charts and graphs, to make and anticipation. While, oil price is controlled by different factors such as political matters, demand and production market, wars and relationship between countries and so many other factors which is clarified in the Oil price Market in our website.