SunSirs: China's Total Asphalt Imports and Exports Declined in January–February 2026

I. Total Asphalt Imports and Exports Declined; Average Price Slightly Lower

Total asphalt imports in January were 37.49 tons, falling to 31.07 tons in February—a month-over-month decrease of 17.1%. The total value of imports fell from $141 million to $117 million, a decrease of 17.0%. The average import price remained largely unchanged, dropping from $376.76 per ton to $375.86 per ton.

Total exports in January were 111,600 tons, falling to 59,500 tons in February, a month-on-month decrease of 46.7%. The total export value fell from approximately $41.42 million to $22.10 million, a decrease of 46.6%. The average export price dropped from $382.27 per ton to $371.76 per ton.

II. Changes in Import Structure: Affected by the unstable situation in the Middle East, South Korea became the top importer, while imports from the United Arab Emirates and Iraq fell sharply, and the shares of Oman and Singapore increased.

In January, the top three import sources were South Korea, the UAE, and Iraq; in February, they were South Korea, the UAE, and Oman. Unlike last year, imports of bitumen from the Middle East declined this year due to regional instability, allowing South Korea to rise to the top position. South Korea’s import volume in February fell from 132,400 metric tons to 125,800 metric tons, yet it remained the top source country. Imports from the UAE dropped sharply from 107,000 metric tons to 67,900 metric tons, a significant decline. Imports from Oman remained stable at around 43,000 metric tons, with its share increasing. Imports from Iraq plummeted from 54,400 metric tons to 12,700 metric tons, a 76.6% decrease. The intensification of the U.S.-Iraq conflict led to a significant decline in exports to Iraq. New import sources such as Mongolia and Germany emerged in February, but their volumes were relatively small.

III. Changes in Export Structure: Vietnam remains the largest market, with exports to Malaysia and Thailand showing a marked increase.

In January, the top three export destinations were Vietnam, India, and Indonesia; in February, they were Vietnam, Malaysia, and Thailand. Exports to Vietnam fell from 57,500 metric tons to 23,800 metric tons but remained the largest export market. Exports to India dropped from 13,300 metric tons to zero, a significant decline. Exports to Malaysia rose from 6,800 metric tons to 13,800 metric tons, making it the second-largest export market. Exports to Thailand rose from 16 tons to 9,000 tons, a significant increase.

IV. Changes in Average Export Prices

In January, average prices for major export destinations generally ranged from $350 to $490 per ton. In February, average prices for Vietnam, Malaysia, Thailand, and others ranged from $350 to $420 per ton, representing a slight overall decline.

Overall, both asphalt imports and exports saw a noticeable decline in February, with exports falling by nearly half, primarily due to the domestic Spring Festival holiday and seasonal weakening of downstream demand. While the intensity of asphalt trade decreased in February, the trade structure became more diversified, and the market operated generally smoothly.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.