What caused the recent shortage and surge in asphalt prices in Taiwan?

The war in the Middle East led to a decrease in crude oil imports, which affected tar production and reduced asphalt supply.

How can contractors and engineering agencies handle public works affected by the asphalt shortage?

They can mutually agree to adjust prices according to the contract, and the construction period can also be extended.

Which companies in Taiwan are capable of producing raw material tar?

Taiwan's CPC Corporation and Formosa Plastics Group's Formosa Petrochemical are the ones capable of producing tar.

How has Formosa Petrochemical addressed the raw material tar supply issue?

Formosa Petrochemical has resolved the issue by increasing its refining ratio through its two oil refining processes.

What measures is Zhongsu taking to prioritize Taiwan's domestic demand for tar?

Zhongsu will halt supply to foreign contracted buyers and utilize its inventory of 45,000 tons to prioritize domestic needs.

AI News NQ Analysis

Middle East Situation Impacts Asphalt Prices; Chen Chin-te: Raw Material Tar Supply Is Secure

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AI Summary (NQ-processed)

Due to tensions in the Middle East causing a drop in crude oil imports, asphalt prices have surged in Taiwan. However, PCC Minister Chen Chin-te confirmed that domestic refiners have adjusted production, ensuring a stable supply of raw materials.

AI Analysis

Frequently Asked Questions

Q: What caused the recent shortage and surge in asphalt prices in Taiwan?: A: The war in the Middle East led to a decrease in crude oil imports, which affected tar production and reduced asphalt supply.
Q: How can contractors and engineering agencies handle public works affected by the asphalt shortage?: A: They can mutually agree to adjust prices according to the contract, and the construction period can also be extended.
Q: Which companies in Taiwan are capable of producing raw material tar?: A: Taiwan's CPC Corporation and Formosa Plastics Group's Formosa Petrochemical are the ones capable of producing tar.
Q: How has Formosa Petrochemical addressed the raw material tar supply issue?: A: Formosa Petrochemical has resolved the issue by increasing its refining ratio through its two oil refining processes.
Q: What measures is Zhongsu taking to prioritize Taiwan's domestic demand for tar?: A: Zhongsu will halt supply to foreign contracted buyers and utilize its inventory of 45,000 tons to prioritize domestic needs.