U.S. benchmark and international crude benchmarks both fell as investors took profits following prior gains on the announcement of sweeping new U.S. sanctions targeting Iran. The 'Operation Economic Outcast' campaign imposes global sanctions with no exemption for China, creating uncertainty around Iranian oil flows. Prices remain volatile as markets assess whether the sanctions will successfully isolate Iran's energy sector or be circumvented.
Crude oil futures firmed amid firm spot demand, with both major global benchmarks edging higher in trade. Increased positioning by market participants reflected continued underlying demand support.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Asphalt | China | FOB | USD 641.80/MT | July 2026 |
| Asphalt | India | FOB | USD 898.35/MT | July 2026 |
| Asphalt | USA | CIF | USD 829.29/MT | July 2026 |
| Asphalt | Germany | FOB | USD 605.65/MT | July 2026 |
| Asphalt | Iran | FOB | USD 336.60/MT | July 2026 |
| Asphalt | China | FOB | USD 655.24/MT | June 2026 |
| Asphalt | India | FOB | USD 923.00/MT | June 2026 |
| Asphalt | USA | CIF | USD 810.24/MT | June 2026 |
| Asphalt | Germany | FOB | USD 612.50/MT | June 2026 |
| Asphalt | Iran | FOB | USD 340.00/MT | June 2026 |
Stay updated with the latest Asphalt prices, historical data, and tailored regional analysis
Asphalt prices were about USD 655/MT in China in June 2026, while in India the average price was roughly USD 923/MT. Asian asphalt markets gained throughout most of H1 2026, driven by lower refinery output amid high crude prices that raised production costs. The Chinese refineries continued to operate at lower capacities, which reduced material availability and strengthened supplier positions. Additionally, regional demand was boosted by road construction and infrastructure work, while Southeast Asian buyers continued to absorb Chinese exports. Demand in India was slightly high amid stronger infrastructure and road-building activity, and import-related replacement cost coupled with high energy costs kept high price levels in the market. Momentum in the market decelerated by the end of H1 due to declining geopolitical risk premium and weaker sentiment in crude.
Analyst Insight
According to Procurement Resource, asphalt prices are expected to remain firm but volatile, with crude oil movements, refinery operating rates and infrastructure demand determining market direction.
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Asphalt prices in 2025 experienced considerable volatility, closely tracing movements in crude oil, the primary feedstock for asphalt production through fractional distillation processes. The year began with elevated price levels, reflecting firm crude oil valuations in global markets. However, prices declined progressively as the year advanced, driven by weakening crude oil benchmarks amid shifting supply-demand dynamics.
The first quarter witnessed relatively stable conditions, but subsequent periods saw increased pressure on asphalt valuations. Mid-year brought pronounced downward momentum as crude oil prices softened due to demand concerns in major consuming regions and adequate supply availability. A brief recovery phase emerged as seasonal construction activity picked up in key markets, temporarily supporting asphalt demand and prices. Trade flows remained active, though price competitiveness varied across regions based on local crude oil pricing and refinery margins.
The latter part of the year saw renewed weakness, with asphalt prices declining further in line with sustained crude oil price erosion. Supply remained sufficient to meet downstream demand from road construction and infrastructure projects, while crude oil market sentiment remained cautious due to macroeconomic uncertainties.
Asphalt refers to a semi-solid form of petroleum that is sticky, black, and highly viscous in nature. It is classified as a pitch. It may be found in natural deposits, like the Pitch Lake, or may be obtained as a refined product. It is most widely used for road construction, where it is used as a binder to create asphalt concrete upon its combination with aggregate particles. Its other significant application involves its use in the production of bituminous waterproofing products, like roofing felt, flat roofs sealant, etc.
Binder, Construction and roofing applications, Pipe and cable coatings, Paints, Tile underlying waterproofing, Newspaper ink production, Airport runways, Footways and pedestrian ways
Bitumen
China Petroleum & Chemical Corporation (or Sinopec), Elead Ingoton Mobil Corporation, Nynas AB, Royal Dutch Shell Plc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Asphalt is produced by separating it from other components in crude oil including naphtha, gasoline and diesel, through the process of vacuum distillation. In this process, it is obtained as the "heavy" fraction with a boiling point greater than 500 °C.
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