Bitumen Price in Yerevan
Last updated: 2026-09-30
Bitumen Price in Yerevan
As of Q3 2025, the bitumen price in Yerevan ranges from $420 to $510 per metric ton (FOB Yerevan depot), depending on grade, volume, and origin. The benchmark 60/70 penetration grade trades at approximately $455–$470 per ton for orders under 50 tons, while bulk purchases of 200+ tons drop to $420–$435 per ton. Prices have risen 6.8% year-over-year, driven by Russian refinery export dynamics, Armenian import logistics costs, and rising regional demand from road construction projects.
Current Bitumen Price Ranges in Yerevan (Q3 2025)
Armenia produces no crude oil, so all bitumen consumed in Yerevan is imported — primarily from Russia (~72%), Iran (~18%), and Turkmenistan (~7%). The remaining 3% comes from European suppliers via Georgia's Poti port.
| Grade | Volume | Price Range (USD/ton) | Origin | Delivery Time |
|---|---|---|---|---|
| 60/70 | 1–20 tons | $480–$510 | Russia | 3–5 days |
| 60/70 | 20–50 tons | $455–$475 | Russia | 5–7 days |
| 60/70 | 50–200 tons | $435–$455 | Russia/Iran | 7–12 days |
| 60/70 | 200+ tons | $420–$435 | Russia | 12–18 days |
| 40/50 | 20+ tons | $465–$490 | Russia | 7–10 days |
| 85/100 | 20+ tons | $445–$465 | Iran | 10–14 days |
| 90/130 | 20+ tons | $440–$460 | Iran | 10–14 days |
| Modified (SBS PMB) | 20+ tons | $560–$620 | Russia/EU | 14–21 days |
- Retail prices (5–20 ton purchases) carry a 12–18% premium over bulk rates
- Iranian bitumen is typically $10–$25 cheaper per ton but faces longer customs clearance (10–14 days vs. 3–7 days for Russian rail shipments)
- Winter surcharge (Nov–Feb): Add $15–$30 per ton due to rail/logistics constraints
What Drives Bitumen Prices in Yerevan?
Russia supplies nearly three-quarters of Armenia's bitumen. Wholesale prices at Russian refineries (Volgograd, Saratov, Ufa) currently sit at $310–$360 per ton (ex-works). Adding rail freight to Yerevan ($65–$95/ton), customs duties ($0 for EAEU-origin goods), and local handling ($18–$25/ton) produces the final Yerevan price.
| Cost Component | Cost (USD/ton) | % of Final Price |
|---|---|---|
| Russian refinery price | $310–$360 | 68–74% |
| Rail freight (RZD) | $65–$95 | 14–20% |
| Customs & documentation | $0–$12 | 0–3% |
| Local handling & storage | $18–$25 | 4–6% |
| Distributor margin | $25–$45 | 6–10% |
| Final Yerevan price | $420–$510 | 100% |
Armenia has two primary import corridors:
- Georgian route (Georgian Railway + Poti): 550 km, 4–6 days, $70–$90/ton freight
- Iranian route (Nordooz border + truck): 340 km, 2–4 days but customs delays, $55–$75/ton
- Russian rail (via Upper Lars or Azerbaijan border closure): 1,100–1,400 km, 5–9 days, $65–$95/ton
The Upper Lars checkpoint (Georgia-Russia) regularly delays shipments by 2–5 days in winter, adding $10–$20/ton to landed costs.
| Period | Price Impact | Reason |
|---|---|---|
| March–June | +4–8% | Road construction season starts |
| July–September | Peak prices | Peak paving season |
| October–November | -3–5% | Season winds down |
| December–February | +5–10% | Low supply, winter logistics |
Bitumen prices in Yerevan correlate 0.87 with Brent crude (3-month lag) and -0.62 with USD/AMD exchange rate movements. When the dram weakens by 5%, local bitumen prices rise by 3–4% within 30 days.
Bitumen Price Comparison: Yerevan vs. Regional Markets
How does Yerevan compare to neighboring capitals and regional benchmarks?
| City | 60/70 Price (USD/ton) | Difference vs. Yerevan | Key Factor |
|---|---|---|---|
| Yerevan | $455–$470 | — | Import-dependent |
| Tbilisi, Georgia | $430–$445 | -5.5% | Port access (Poti) |
| Baku, Azerbaijan | $385–$410 | -13.5% | Domestic refining |
| Tehran, Iran | $365–$395 | -18.0% | Domestic refining + sanctions discount |
| Moscow, Russia | $335–$360 | -26.0% | Domestic refining |
| Istanbul, Turkey | $445–$465 | -2.5% | Mixed production/import |
| Dubai, UAE | $460–$485 | +2.8% | Import-dependent, premium market |
Key takeaway: Yerevan's landlocked position means buyers pay a $95–$110 per ton premium over Russian refinery prices. This is 25–30% higher than buyers in Tbilisi, who benefit from direct port access.
How to Get the Best Bitumen Price in Yerevan
- Buy in bulk (200+ tons): Saves $35–$50/ton vs. small orders
- Order in October–November: Lock in pre-season pricing before demand peaks
- Source directly from Russian refineries: Eliminates 1–2 middlemen, saves $20–$40/ton
- Combine rail shipments: Share a 60-ton railcar with another buyer; split freight costs
- Use Iranian grades for non-critical applications: Save $10–$25/ton on 85/100 and 90/130 grades
- Negotiate 60-day payment terms: Effective discount of 3–4% vs. prepayment
- Quotes below $400/ton for 60/70: Likely substandard grade or outdated pricing
- No test certificates: Always require penetration, softening point, and ductility test reports (ASTM D5, D36, D113)
- Unclear origin: Iranian bitumen often gets re-labeled as Russian; verify with refinery documentation
- Spot prices only: Lock in 3-month forward contracts to hedge against Q2 price spikes
- Use Letters of Credit (LC) for orders above $50,000
- Specify Incoterms: DAP Yerevan is standard for domestic delivery
- Include a price adjustment clause tied to Brent crude if contract exceeds 90 days
- Require pre-shipment sampling and third-party lab verification (SGS or Bureau Veritas)
Market Outlook: Bitumen Prices in Yerevan Through 2026
Three factors will shape Yerevan bitumen prices over the next 12–18 months:
1. Russian export duty changes: If Russia adjusts its bitumen export duty (currently $0 within EAEU), Yerevan prices could swing ±8%.
2. Armenian road infrastructure spending: The government's $380 million road rehabilitation program (2025–2027) will increase domestic demand by an estimated 45,000–60,000 tons annually, putting upward pressure on prices.
3. Iranian supply expansion: New refining capacity in Tabriz and Isfahan could increase Iranian exports to Armenia by 15–20%, potentially softening prices by $10–$15/ton by mid-2026.
| Scenario | 2026 Q1 Price (USD/ton) | Probability |
|---|---|---|
| Base case (stable supply) | $440–$465 | 55% |
| Bull case (supply disruption) | $475–$510 | 25% |
| Bear case (Iranian surge) | $410–$435 | 20% |
FAQ: Bitumen Price in Yerevan
Q1: What is the current price of 60/70 bitumen in Yerevan?
As of Q3 2025, 60/70 bitumen in Yerevan costs $455–$470 per ton for orders of 20–50 tons, and $420–$435 per ton for bulk orders exceeding 200 tons. Prices include delivery to Yerevan but exclude VAT (20% for domestic buyers without exemption).
Q2: Is bitumen cheaper in Yerevan or Tbilisi?
Tbilisi is approximately 5.5% cheaper ($430–$445/ton vs. $455–$470/ton in Yerevan) due to direct access to Georgia's Poti and Batumi ports. However, transporting bitumen from Tbilisi to Yerevan adds $25–$40/ton in freight and customs, making local Yerevan purchase more economical for Armenian buyers.
Q3: How much does it cost to import 100 tons of bitumen to Yerevan from Russia?
A 100-ton Russian bitumen shipment to Yerevan costs approximately $43,500–$46,500 total ($435–$465/ton), including refinery price ($310–$360/ton), rail freight ($65–$95/ton), local handling ($18–$25/ton), and distributor margin ($25–$45/ton).
Q4: What is the best time of year to buy bitumen in Yerevan?
The best time to buy is October–November, when prices drop 3–5% after peak construction season and before winter surcharges kick in. Buyers who lock in forward contracts in November typically save $15–$30 per ton compared to spring purchases.
Q5: How do I verify bitumen quality and price legitimacy in Yerevan?
Always request ASTM test certificates (D5 for penetration, D36 for softening point, D113 for ductility) and verify the refinery of origin through shipping documents. Prices below $400/ton for 60/70 grade should be treated as suspicious — they typically indicate substandard material or hidden fees.
Calculate Your Exact Bitumen Cost in Yerevan
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Updated quarterly. Prices reflect FOB Yerevan depot, Q3 2025 benchmarks.