Surge in Price of Bituminous Mixtures to $472 per Ton in Japan

Surge in Price of Bituminous Mixtures to $472 per Ton in Japan

In April 2023, the price of bituminous mixtures in Japan reached $472 per ton, experiencing a 13% increase compared to the previous month. However, despite this rise, the overall export price showed a significant decline. The average export prices peaked at $759 per ton in April 2022 but failed to regain momentum from May 2022 to April 2023. Different overseas markets saw varied average prices, with Mexico having the highest price of $568 per ton, while the United Kingdom had one of the lowest prices at $419 per ton. During the period from April 2022 to April 2023, Mexico experienced the most notable growth rate in terms of prices with a decrease of 2.4%, while other major destinations witnessed price declines. Japan exported approximately 166,000 tons of bituminous mixtures in April 2023, representing a 43% increase compared to the previous month. The exports showed a buoyant expansion, with the most prominent growth recorded in November 2022 at a rate of 77% month-on-month, reaching a peak of 176,000 tons. The value of these exports skyrocketed to $78 million in April 2023. The United Kingdom, Mexico, and Malaysia were the primary destinations for Japan's bituminous mixtures exports, accounting for a combined 99% share of total exports. The United Kingdom exceeded Mexico's exports twofold, with 88,000 tons exported. From April 2022 to April 2023, the United Kingdom experienced the highest growth rate in terms of both volume and value of exports. With a CAGR of +4.0%, it was the leading country in terms of export value growth among the main destinations, while other countries showed mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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