ICPR Bitumen Price
Last updated: 2026-10-08
ICPR Bitumen Price
The current ICPR bitumen price ranges from $410 to $520 per metric ton FOB depending on grade (60/70, 40/50, 80/100), packaging (bulk, drum, jumbo bag), and origin. For a standard shipment of 1,000 MT of ICPR 60/70 in bulk, buyers typically pay $430–$465 per MT FOB Bandar Abbas, translating to approximately $430,000–$465,000 per cargo, with delivery timelines of 15–25 days to major Asian ports. Prices are quoted on a per metric ton basis, and ICPR (Iranian Caspian Petroleum Refining / Iran Chemical Petrochemical Refinery) bitumen is graded according to penetration and viscosity standards comparable to ASTM D946 and EN 12591.
What Is ICPR Bitumen and Why Its Price Matters
ICPR bitumen refers to penetration-grade and viscosity-grade bitumen produced under the ICPR (Iranian Caspian Petroleum Refining) specification, widely traded in the Middle East, South Asia, and Southeast Asia. It is a 60/70, 40/50, 80/100, and 30/40 penetration grade product used in road construction, waterproofing, and industrial applications.
Because ICPR bitumen competes directly with Bahrain (BAPCO), UAE (ADNOC), Singapore (Shell), and South Korean (SK) bitumen, its price benchmark is closely tied to:
- Vacuum bottom feedstock costs (linked to Brent crude and Iranian crude differentials)
- FOB Bandar Abbas / Bandar Imam Khomeini logistics
- Freight rates to target markets (India, China, Vietnam, Indonesia, East Africa)
- Currency fluctuations (IRR/USD and USD/INR)
- Sanctions-related payment and shipping friction, which adds $10–$35 per MT in insurance and re-routing costs
Key ICPR Bitumen Price Snapshot (Q1 2025 Indicative)
| Grade | Origin Port | Packaging | Price (USD/MT FOB) | Typical Order (MT) |
|---|---|---|---|---|
| ICPR 60/70 | Bandar Abbas | Bulk | $430–$450 | 1,000–30,000 |
| ICPR 60/70 | Bandar Abbas | New Steel Drum | $455–$480 | 500–5,000 |
| ICPR 40/50 | Bandar Abbas | Bulk | $445–$465 | 1,000–20,000 |
| ICPR 80/100 | Bandar Abbas | Bulk | $415–$435 | 1,000–20,000 |
| ICPR 30/40 | Bandar Imam | Jumbo Bag | $490–$520 | 500–2,000 |
Prices are indicative and update weekly based on crude oil movement and freight.
ICPR Bitumen Price vs. Competing Origins
Buyers frequently ask how ICPR bitumen price compares to Bahrain, UAE, and Singapore origins. The table below shows typical differentials (USD/MT FOB) as of Q1 2025.
| Origin | Grade | Price (USD/MT FOB) | Differential vs. ICPR | Notes |
|---|---|---|---|---|
| ICPR (Iran) | 60/70 | $430–$450 | Baseline | Lowest FOB, highest logistical friction |
| Bahrain (BAPCO) | 60/70 | $480–$500 | +$50 | Reliable shipping, premium quality |
| UAE (ADNOC) | 60/70 | $470–$495 | +$40 | Fast loading, Jebel Ali hub |
| Singapore (Shell) | 60/70 | $500–$525 | +$70 | Benchmark for Asia |
| South Korea (SK) | 60/70 | $495–$520 | +$65 | High consistency, drum-heavy |
Key takeaways:
- ICPR bitumen is $40–$70 per MT cheaper than Gulf and Asian alternatives on an FOB basis.
- Landed cost parity narrows to $15–$35 per MT once freight, insurance, and payment friction are added.
- For buyers in India, Sri Lanka, Bangladesh, and East Africa, ICPR remains the cheapest origin for bulk 60/70.
How ICPR Bitumen Price Is Calculated
ICPR pricing follows a transparent formula used by most Iranian refineries and trading houses:
ICPR Bitumen Price = Feedstock Cost + Refining Margin + Packaging + Logistics + Trader Margin + Risk Premium
| Cost Component | Typical Value (USD/MT) | % of Final Price |
|---|---|---|
| Vacuum bottom feedstock | $310–$340 | 70–75% |
| Refining & processing | $25–$35 | 5–8% |
| Packaging (bulk vs. drum) | $0–$35 | 0–8% |
| Inland + port logistics | $15–$25 | 3–5% |
| Trader margin | $10–$20 | 2–4% |
| Risk & insurance premium | $10–$35 | 2–8% |
| Total FOB | $430–$465 | 100% |
Drivers that move ICPR bitumen price week to week:
- Brent crude ±$5/bbl → ICPR bitumen ±$8–$12/MT
- Iran crude differentials → ±$5–$10/MT
- Freight (Bandar Abbas → Nhava Sheva) → $35–$55/MT, moves ±$5
- USD/IRR and USD/INR → ±$3–$7/MT
- Sanctions news → sudden ±$15–$30/MT swings
ICPR Bitumen Price by Destination (Landed Cost)
Landed cost is what buyers actually pay. The table below shows indicative CFR/CIF prices for ICPR 60/70 bulk from Bandar Abbas in Q1 2025.
| Destination Port | FOB (USD/MT) | Freight (USD/MT) | Insurance (USD/MT) | Landed CFR (USD/MT) | Transit Days |
|---|---|---|---|---|---|
| Nhava Sheva, India | $440 | $45 | $3 | $488 | 10–14 |
| Chittagong, Bangladesh | $440 | $52 | $4 | $496 | 14–18 |
| Colombo, Sri Lanka | $440 | $40 | $3 | $483 | 12–16 |
| Shanghai, China | $440 | $55 | $4 | $499 | 18–24 |
| Ho Chi Minh, Vietnam | $440 | $58 | $5 | $503 | 20–26 |
| Jakarta, Indonesia | $440 | $60 | $5 | $505 | 20–25 |
| Mombasa, Kenya | $440 | $65 | $6 | $511 | 22–28 |
| Jebel Ali, UAE | $440 | $18 | $2 | $460 | 3–5 |
Observations:
- Jebel Ali is the cheapest landed destination due to short sea freight.
- East Africa and Southeast Asia pay a $30–$70 per MT freight premium over India.
- Bulk orders above 10,000 MT can negotiate $5–$12 per MT freight discounts.
ICPR Bitumen Price Trends: 2023–2025
Understanding historical trends helps buyers time purchases and negotiate.
| Period | ICPR 60/70 Avg (USD/MT FOB) | YoY Change | Key Driver |
|---|---|---|---|
| Q1 2023 | $395 | — | Post-COVID recovery |
| Q3 2023 | $455 | +15% | Brent spike to $95/bbl |
| Q1 2024 | $470 | +19% | Red Sea shipping crisis |
| Q3 2024 | $440 | -6% | Brent correction to $75/bbl |
| Q1 2025 | $430–$450 | -5% | Weak Chinese demand, freight normalization |
| Q2 2025 (forecast) | $435–$460 | +1–3% | Seasonal road construction demand |
Trend drivers to watch:
- Seasonal demand: Q2–Q3 (April–September) is peak road construction season in India, Bangladesh, and East Africa.
- Monsoon effect: June–September typically softens Indian demand by 10–15%.
- Sanctions policy: Any tightening can add $20–$40/MT overnight.
- Chinese demand: A 5% increase in Chinese imports moves ICPR prices by $8–$15/MT.
Payment Terms and Their Effect on ICPR Price
Payment method materially changes the effective ICPR bitumen price because of risk and FX costs.
| Payment Method | Price Impact (USD/MT) | Notes |
|---|---|---|
| Irrevocable LC at sight | Baseline | Most common; via UAE/Chinese banks |
| Cash against documents (CAD) | -$3 to -$5 | Lower bank fees |
| Advance TT (100%) | -$8 to -$15 | Seller-preferred, buyer risk high |
| Usance LC (90 days) | +$5 to +$10 | Financing cost passed on |
| Escrow / barter | -$10 to -$20 | Increasingly used to bypass sanctions |
Practical tip: Buyers using UAE-based intermediaries or Chinese yuan settlement often get $10–$20 per MT better pricing than those insisting on USD via European banks.
ICPR Bitumen Quality Specifications
| Property | ICPR 60/70 | ICPR 40/50 | ICPR 80/100 | Test Method |
|---|---|---|---|---|
| Penetration @25°C (0.1mm) | 60–70 | 40–50 | 80–100 | ASTM D5 |
| Softening Point (°C) | 49–56 | 52–60 | 45–52 | ASTM D36 |
| Ductility @25°C (cm) | 100+ | 100+ | 100+ | ASTM D113 |
| Solubility in CS₂ (%) | 99.0+ | 99.0+ | 99.0+ | ASTM D2042 |
| Flash Point (°C) | 250+ | 250+ | 230+ | ASTM D92 |
| Specific Gravity @25°C | 1.01–1.06 | 1.01–1.06 | 1.01–1.06 | ASTM D70 |
| Typical Price (USD/MT FOB) | $430–$450 | $445–$465 | $415–$435 | — |
Note: ICPR 60/70 is the highest-volume grade and the one most quoted in price benchmarks. ICPR 30/40 (harder grade for industrial use) commands a $50–$70 per MT premium.
Frequently Asked Questions
Q1: What is the current ICPR bitumen price per metric ton?
The current ICPR bitumen price is $430–$450 per MT FOB Bandar Abbas for 60/70 bulk, $455–$480 per MT for drummed, and $415–$435 per MT for 80/100 grade. Landed CFR prices to India and Bangladesh typically run $483–$496 per MT. Prices update weekly based on Brent crude and freight rates.
Q2: How does ICPR bitumen price compare to Bahrain or UAE bitumen?
ICPR bitumen is typically $40–$70 per MT cheaper than Bahrain (BAPCO) and UAE (ADNOC) on an FOB basis. However, after adding freight, insurance, and payment friction of $15–$35 per MT, the landed cost gap narrows to $15–$35 per MT. For East African and South Asian buyers, ICPR usually remains the cheapest origin.
Q3: What is the minimum order quantity for ICPR bitumen?
The standard minimum order quantity for ICPR bulk bitumen is 1,000 MT, though some traders accept 500 MT at a $8–$15 per MT premium. Drummed ICPR bitumen can be ordered in smaller lots of 100–500 MT but adds $25–$35 per MT in packaging and handling costs. Jumbo bag orders start at 500 MT.
Q4: How long does ICPR bitumen delivery take?
Delivery times from Bandar Abbas range from 3–5 days to Jebel Ali, 10–14 days to Nhava Sheva, 18–24 days to Shanghai, and 22–28 days to Mombasa. Loading itself takes 5–10 days after LC confirmation. Buyers should plan a 30–45 day total lead time from order to discharge.
Q5: What payment terms are used for ICPR bitumen purchases?
Most ICPR bitumen trades use irrevocable letters of credit (LC) at sight through UAE, Chinese, or Turkish banks, or cash against documents (CAD). 100% advance TT can secure $8–$15 per MT discounts, while usance LC (90 days) adds $5–$10 per MT. Yuan-based settlement is increasingly common.
Q6: Does ICPR bitumen price include freight and insurance?
No — ICPR bitumen price is usually quoted