Bitumen price in the Middle East is influenced by various factors and it’s difficult to have an exact forecast of the price.
Many factors such as regional political issues have a great impact on the total price of bitumen, especially in 2022 because the conflicts are getting worse.
The problem with the sanctions and limitations and also small Civil and domestic wars in middle east countries were always a significant issue, affecting not only the price of bitumen but also all the other goods which are going to be exported.
But different companies tend to learn and utilize new ways to first try to stabilize the prices as much as they can and also reduce sanction effects and circumstances on the market.
This way we may be able to have an approximate forecast for the prices.
Bitumen, as it is a product of petroleum, has the highest amount of price instability because most middle east countries which produce and export petroleum and its derivatives, provide most of their country’s costs throughout exporting these products and have little or no other sources of income.
It may be possible to create a price index from the previous changes but one must note that they might not be so reliable.
Price of Bitumen per Ton
The bitumen price is usually given to the customers by price per Ton and the common packaging is in drums.
The main reason is that bitumen is produced and used in bulk and few people tend to purchase bitumen in kilograms.
Bitumen usually is used in road construction and maintenance so it’s normal to have a wholesale market due to a large number of orders.
The minimum order quantity of different companies and manufacturers are different according to the market demands but it’s widely accepted to provide the price as per Ton not per kilograms.
Thus it is not much efficient to sell the bitumen in kilograms, rather the customers usually demand the price per Ton.
Also, the price per Ton can reduce the total price and it would be more price efficient for the customer.
In addition, the pricing index will be more reasonable if it’s given per Ton.
The cost of the product can also be more suitable when added to the freight charges as the freight will be lower in high quantity orders.
Bitumen Price History
Bitumen has been used in a wide range of industries and to have a clear understanding of the price history we need to know the exact occasions which could have had an impact on its pricing.
Bitumen is a kind of product whose price can be easily affected by different types of incidents throughout history so mostly it’s not so simple to have a clear view and perspective of the bitumen price.
But to have a clear understanding of what is important in the history of bitumen price, we need to have information about what affects the bitumen price.
Mostly the price of the bitumen is affected by various conditions.
The most important issue that has had a great deal of impact in the history of bitumen price is political issues.
Sanctions and limitations have played an important role in the fluctuation of bitumen price, mostly in Middle East countries that produce the largest amount of the world’s bitumen.
Another reason that might affect the price is the alteration of Dollar.
As it is the international market currency, it has direct effect on the price in international markets.