30 October 2026 | Tiger Bitumen, a brand of HY International Group
This bitumen market update for the week ending 30 October 2026 shows the global market moving in two directions. In Asia-Pacific, cargo prices softened: Singapore-origin values dipped for the first time since July, and South Korean cargoes fell sharply. In Europe, the Mediterranean and Africa, prices moved higher as crude oil and High-Sulphur fuel oil (HSFO) values continued to climb.
As a result, the gap between Asian and Mediterranean cargo prices has started to narrow, although it remains wide. European buyers are also preparing for price revisions in November, while seasonal demand in West and southern Africa continues to build. Explore our Bitumen Market Updates for further international market coverage.
Key Takeaways This Week
- Asia-Pacific prices eased: Adequate importer stocks, budget limits and competitive offers from other origins weighed on Singapore and South Korean cargo values.
- Europe and the Mediterranean firmed: Higher crude and fuel oil values lifted outright cargo prices, while late-season demand and refinery constraints supported truck prices.
- November price revisions expected: Higher average fuel oil values in October point to sharp November increases in European markets where prices are set monthly.
- Freight eased: Bitumen tanker rates fell in the Mediterranean, northern Europe and on routes to West Africa as cargo demand slowed.
- Africa stayed active: Dry-season demand in West Africa and peak paving in South Africa continued to support import requirements.
What Is Driving Bitumen Prices This Week?
Feedstock costs. Crude oil and fuel oil values rose again. Because bitumen cargo prices in Europe, the Mediterranean and Africa are closely linked to fuel oil, outright prices in those regions moved higher even where buyer demand was cautious. Buyers can also read our analysis of why rising bitumen prices do not always mean tighter supply.
Regional demand. Asia moved the other way. Many Southeast Asian importers now hold sufficient stocks, project budgets are stretched, and buyers have more choice of origin, which pushed Asian cargo values lower.
Freight. With cargo demand slowing, more bitumen tankers are available for spot business, and charterers have been able to secure lower rates. This partly offsets higher outright prices for buyers on a delivered basis. Our guide to bitumen freight and delivered cost explains why this matters when comparing offers.
Northwest Europe: Firm Late Season Ahead of November Price Rises
Late-season demand remained firm in several northwest European markets as contractors worked to complete projects before winter. Domestic truck prices in the UK, France and the Benelux held steady this week, but this is expected to change. In these markets, prices are typically revised each month using formulas linked to fuel oil, and with October’s average fuel oil price well above September’s, market participants expect sharp increases for November supplies.
In the Baltic states, mild and dry weather kept paving activity busy, limiting the surplus available for export and lifting Baltic cargo premiums. Nordic demand, by contrast, has faded as winter approaches. For further background, see our Q4 2026 seasonal bitumen demand guide.
Central Europe: Supply Remains Tight
Central Europe remained one of the firmest regions. Truck prices rose sharply in northern Germany, and demand in southern Germany increased as contractors pushed to finish work before the season ends. Refinery supply constraints continued to limit availability in Germany, Poland and the Czech Republic, while Hungarian and Romanian domestic prices also moved higher.
For background on these supply constraints, see our analysis of Central Europe bitumen prices.
Mediterranean: Higher Prices, Softer Freight
Mediterranean bitumen cargo prices rose sharply in line with fuel oil, while cargo differentials to fuel oil stayed close to flat. Views on value remained divided, with some buyers bidding below fuel oil and some refiners still seeking premiums.
Freight rates on most Mediterranean routes moved lower as high outright prices reduced cargo demand and left more tankers seeking employment. Spot supply remained limited from Italy and Greece, while strong Spanish domestic demand this year has reduced the volumes available for export. Our earlier article on Mediterranean bitumen premiums explains why outright prices and premiums can move in different directions.
North Africa
North African importers continued to adjust their sourcing. Moroccan buyers are relying more on Spanish cargoes, while Algerian buyers have turned mainly to Greek supply. Algerian demand is expected to pick up in early November after a brief rain-related slowdown.
Sub-Saharan Africa: Seasonal Demand Builds
Prices for cargoes delivered to African destinations rose with fuel oil, although lower tanker freight tempered the increase on a delivered basis.
West Africa: The dry season is under way and construction activity is rising, led by Nigeria, where demand remains buoyant. Truck prices in Ghana have also risen. The region continues to provide an outlet for Mediterranean surplus.
East Africa: Strong road project requirements continue in Kenya, Uganda and neighboring markets. Read our wider analysis of bitumen supply in East and Southern Africa.
Southern Africa: South Africa’s peak paving season is in full swing. Domestic prices have risen since early September, and further increases are expected when monthly prices are revised for November. Activity is expected to stay strong until the usual holiday slowdown from mid-December. See our recent article on South Africa bitumen supply for more detail.
Asia-Pacific: First Price Dip Since July
Singapore-origin cargo prices dipped for the first time since July. Many Southeast Asian importers already hold adequate inventories and were not seeking December-loading cargoes, and competitive offers from Malaysia and south China drew some buyers away from Singapore-origin supply. Some market participants expect Singapore output to increase in December.
South Korean cargo prices fell sharply after November export tenders concluded at softer levels, with most cargoes expected to go to China, where demand is slowing with the onset of winter. For historical context, see our analysis of Singapore and South Korea bitumen prices.
- China: Prices were mixed, with offers lower in east and south China but firmer in Shandong.
- Southeast Asia: Price resistance and budget limits kept many buyers in Vietnam and Indonesia cautious, while some rural projects in East Malaysia were postponed.
- Australia and New Zealand: Wet weather and high import costs led to some project postponements in Australia, while dry conditions kept New Zealand demand steady.
For context on earlier supply tightness, see our Southeast Asia bitumen market outlook for Q4 2026 and our report on Asia bitumen supply conditions.
Asia vs Mediterranean: A Narrowing Price Gap
Asian bitumen cargoes have recently been priced well above Mediterranean cargoes. This week, Asian prices fell while Mediterranean prices rose, so the gap narrowed, although it remains wide. Buyers comparing origins should keep checking delivered costs rather than assuming recent price relationships will hold.
Regional availability can also influence these price differences. Our analysis of bitumen availability by region explains how changes in demand and supply in one market can affect other connected markets.
What This Means for Bitumen Buyers
- Asia-Pacific buyers: With stocks comfortable and prices easing, buyers have more room to be selective about December purchases and to compare offers from several origins.
- European buyers: Expect higher November prices in markets where prices are set monthly, and factor this into end-of-season planning.
- African importers: Softer freight is partly offsetting higher outright prices. Comparing offers on a CFR basis gives a clearer picture than FOB prices alone.
Bitumen Market Outlook: What to Watch
- November price revisions in the UK, France, the Benelux and South Africa.
- The end of the northern paving season in Europe during November.
- Singapore output for December loading, and whether Asian prices continue to ease.
- The Asia–Mediterranean price gap and its effect on cargo flows.
- Crude and fuel oil direction, the main driver of outright prices outside Asia.
- African seasonal demand, especially in Nigeria and South Africa.
Conclusion
This week’s bitumen market update points to a market in transition. Asia-Pacific is showing its first signs of easing after a period of tight supply, while Europe and the Mediterranean remain firm on fuel oil and late-season demand, with November price revisions ahead. In Africa, the construction season continues to gather pace.
At Tiger Bitumen, a brand of HY International Group, we follow international bitumen market developments every week to help our customers plan purchases with confidence. We supply a wide range of bitumen products, including penetration, viscosity, performance and Australian Standard grades, in new steel drums and jumbo bags for worldwide delivery. Buyers reviewing their supply plans are welcome to request a quotation or contact our team to discuss their requirements.
Read last week’s bitumen market update for 23 October 2026 and explore our Bitumen Market Updates section for further regional analysis.
Frequently Asked Questions
Why did Asian bitumen prices fall this week?
Many Southeast Asian importers already hold enough stock for near-term needs, project budgets are under pressure, and buyers are receiving competitive offers from origins other than Singapore. Slowing Chinese winter demand also weighed on South Korean export values.
Why are European bitumen prices expected to rise in November?
In markets such as the UK, France and the Benelux, domestic bitumen prices are usually revised monthly using formulas linked to fuel oil. Because the average fuel oil price in October was well above the September average, November prices are expected to rise sharply.
Is the gap between Asian and Mediterranean bitumen prices closing?
It narrowed this week as Asian prices eased and Mediterranean prices rose, but it remains wide. Its direction will depend on Asian demand, Singapore output and crude and fuel oil prices.
How do lower freight rates affect bitumen buyers in Africa?
Lower tanker freight reduces the delivered cost of cargoes from the Mediterranean, partly offsetting higher outright prices. This is why buyers should compare offers on a delivered (CFR) basis rather than on FOB price alone.
