Bitumen prices show some weakness while Fuel Oil prices remain strong
• Bitumen markets were supported by increasing Crude and Fuel Oil Prices.
• While all over the prices seem to be moving up with one exception that of Iran.
• The prices of Bitumen in Iran lost some ground as traders holding stocks dropped prices expecting some weakness in Demand due to Chinese holidays.
• The demand from India was also weak as northern belts of the country was still going through winter and flow of investment from governments slowed down.
• Asian markets are expected to show some weakness in demand and if Iranian Rial depreciates then Prices would move further down.
• Markets are also trying to find the effect of Iranian Holidays from the third week of next month. • India increased prices of Bitumen by Rs 500/mt (6.8$) from 16th Feb
• However, if prices in Iran continue to fall prices in India would be corrected from March.