Bitumen Price in Vietnam Today
Last updated: 2026-10-03
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Bitumen Price in Vietnam Today
Bitumen price in Vietnam today ranges from 11,800,000 to 13,200,000 VND per tonne (approximately 465–520 USD/tonne) for penetration grade 60/70, with bulk drum shipments ex-Hai Phong port averaging 12,400,000 VND/tonne as of Q1 2025. Imported 60/70 from South Korea and Singapore is trading at 470–495 USD/tonne CFR Vietnam, while local blending from Thai and Malaysian feedstock sits 3–5% cheaper.
Vietnam Bitumen Market Snapshot (Q1 2025)
Vietnam consumes roughly 1.1–1.3 million tonnes of bitumen annually, with 85–90% imported. The market is dominated by grades 60/70 and 40/50 for road construction, plus PG 64-22 for polymer-modified applications.
| Grade | Origin | Price (VND/tonne) | Price (USD/tonne) | Change vs Q4 2024 |
|---|---|---|---|---|
| Pen 60/70 | South Korea | 12,400,000 | 490 | +2.1% |
| Pen 60/70 | Singapore | 12,600,000 | 498 | +1.8% |
| Pen 40/50 | Thailand | 13,000,000 | 514 | +3.2% |
| Pen 60/70 | Local blend | 11,900,000 | 470 | +0.9% |
| PG 64-22 (PMB) | Malaysia | 14,800,000 | 585 | +4.0% |
Assumptions: CFR Hai Phong / Cat Lai, bulk drum, 200-tonne minimum, USD/VND = 25,300.
- Crude oil benchmark: Brent at $74–78/bbl directly anchors bitumen crack spreads (typically $180–220/tonne over Brent in Southeast Asia).
- Freight rates: Korea–Vietnam bulk at $28–35/tonne, up 6% versus 2024 averages.
- Import duty: 0% under ACFTA for ASEAN-origin cargo; 2% MFN for non-ASEAN.
- Domestic demand: Public investment disbursement of VND 680 trillion for 2025 transport infrastructure is pushing volumes up 7–9% YoY.
- FX: VND depreciation of 2.4% against USD in 12 months raised imported costs by roughly VND 280,000/tonne.
Regional Price Comparison: Vietnam vs Southeast Asia
Vietnam is a price taker in the regional market. Relative to peers, Vietnamese landed prices sit mid-range, reflecting competitive freight and 0% ASEAN duty.
| Country | Pen 60/70 CFR (USD/tonne) | vs Vietnam |
|---|---|---|
| Vietnam | 490 | — |
| Thailand | 478 | −2.4% |
| Indonesia | 505 | +3.1% |
| Philippines | 512 | +4.5% |
| Malaysia | 495 | +1.0% |
| Singapore (FOB) | 465 | n/a (FOB) |
Vietnamese buyers benefit from shorter transit times from Korea (5–7 days) and Singapore (3–4 days), reducing demurrage and storage costs by USD 4–6/tonne compared with Philippine importers.
Price Trend: Last 12 Months
Bitumen prices in Vietnam have tracked a mild uptrend since mid-2024, with two corrections.
| Period | Avg. Pen 60/70 (VND/tonne) | MoM Change |
|---|---|---|
| Q1 2024 | 11,200,000 | — |
| Q2 2024 | 11,650,000 | +4.0% |
| Q3 2024 | 12,050,000 | +3.4% |
| Q4 2024 | 12,150,000 | +0.8% |
| Q1 2025 | 12,400,000 | +2.1% |
12-month change: +10.7%. Drivers were primarily crude costs (+6% Brent) and freight (+6%), partially offset by stronger VND import financing.
- Base case: 12,300,000–12,900,000 VND/tonne (seasonal roadwork peak April–September).
- Bull case (Brent >$85): 13,200,000–13,500,000 VND/tonne.
- Bear case (Brent <$68): 11,600,000–11,900,000 VND/tonne.
Cost Components Breakdown
Understanding what you're paying for helps importers negotiate better terms.
| Component | Share of Total | Example (VND/tonne) |
|---|---|---|
| FOB bitumen | 78–82% | 9,800,000 |
| Ocean freight | 3–4% | 420,000 |
| Insurance | 0.3% | 35,000 |
| Import duties/VAT | 10% VAT | 1,150,000 (recoverable) |
| Port + handling | 2% | 250,000 |
| Inland delivery | 3% | 380,000 |
| Total landed | 100% | 12,400,000 |
VAT at 10% is recoverable for registered Vietnamese companies, so effective cost for contractors is approximately VND 11,250,000/tonne.
FAQ: Bitumen Price in Vietnam Today
Q1: What is the current bitumen price in Vietnam per tonne?
As of Q1 2025, penetration grade 60/70 is trading at 12,400,000–13,200,000 VND per tonne (465–520 USD/tonne) delivered CFR Hai Phong. Local-blended equivalents are 3–5% cheaper at around 11,900,000 VND/tonne.
Q2: Which grade is cheapest in Vietnam?
Pen 60/70 from South Korea is the most competitive imported grade at roughly 12,400,000 VND/tonne. It accounts for about 60% of Vietnamese imports because it meets TCVN 7493:2005 road specifications.
Q3: How much does bitumen cost per tonne in USD?
Imported bitumen in Vietnam averages 465–520 USD/tonne CFR, depending on grade and origin. Polymer-modified grades (PG 64-22) are 12–18% higher, around 585 USD/tonne.
Q4: Will bitumen prices rise in 2025?
Analysts expect a 2–4% increase through mid-2025 due to seasonal roadwork demand and Brent crude averaging $76–80/bbl. Downside risk exists if OPEC+ increases output and pushes crude below $70.
Q5: How often do Vietnam bitumen prices change?
Quotes update weekly based on Brent, freight rates, and USD/VND FX. Most importers fix prices for 30-day windows on contract volumes above 500 tonnes.
Closing: Model Your Exact CIF Cost
Bitumen landed cost in Vietnam varies by ±8% depending on origin, grade, freight, and FX. To get a shipment-specific estimate covering freight, duty, VAT, and inland delivery, use the 6Tar cost calculator — enter your grade, volume, port, and Incoterm to get a live per-tonne landed price and total contract value in under 60 seconds.