Global bitumen markets this week were shaped by adverse weather conditions in Europe, strong import demand across West Africa, and holiday-driven slowdowns in Asia. While seasonal factors continue to weigh on consumption in several regions, underlying infrastructure demand remains resilient, particularly in emerging markets.
European markets remain firmly in winter mode. Cold temperatures and persistent rainfall have slowed paving projects across Northwest Europe, keeping domestic truck activity subdued. However, export cargo differentials have strengthened, supported by firmer upstream fuel oil values and selective cargo interest.
Mediterranean ports continue to face operational disruptions due to storms and high swells. Delays in southern Europe have constrained loading schedules, while some refiners adjusted production in response to weaker regional demand. At the same time, maintenance schedules in parts of Central Europe are being closely monitored, as they may tighten supply just as seasonal demand begins to recover.
With paving season typically accelerating from mid-March, market participants are positioning cautiously, balancing winter surpluses against expected spring momentum.
West Africa remains the most dynamic region globally. Nigerian infrastructure activity continues to draw steady cargo inflows from Mediterranean and Asia-Pacific suppliers. Terminal storage levels are being replenished ahead of sustained dry-season paving programs.
Refinery maintenance in parts of West Africa has increased reliance on imports, reinforcing trade flows into key terminals such as Lagos and Lome. The entry of new, modern bitumen tankers into African routes enhances logistical reliability and signals long-term trade commitment.
In Southern Africa, persistent rainfall has slowed inland construction activity, but import arrivals into Durban remain active. East African markets, including Kenya and Uganda, continue road projects, although seasonal and holiday-related pauses may temporarily affect activity levels.
Across Southeast Asia, procurement discussions eased ahead of Lunar New Year and Ramadan. Buyers in Vietnam, Malaysia, and Indonesia have largely deferred fresh commitments, contributing to softer short-term demand conditions.
China’s construction sector entered a holiday pause, reducing immediate buying interest, though feedstock considerations continue to influence refinery behavior. In South Korea, refiners concluded export tenders despite slower downstream demand from China.
Australia stands out as a relative bright spot, benefiting from dry weather that supports peak paving activity. Meanwhile, Southeast Asian markets are expected to re-engage more actively once holiday periods conclude and new project cycles begin.