The price of gravel has stabilized, recovering from a disruption caused by China's decision to halt exports of the key construction material in March, Ministry of Economic Affairs (MOEA) officials said yesterday.
Citing ministry statistics, the officials said that gravel prices grew by 4.6 percent this month from July, representing an average monthly rise of 1.1 percentage points during the four-month period. The increase reflected the gradual stabilization of domestic gravel prices, they said.
The average price of gravel increased to NT$658 (US$20.38) per cubic meter on Nov. 2 from NT$635 in July, Bureau of Mine statistics show. The figures also showed that as of Nov. 4, domestic gravel demand stood at 48.07 million cubic meters, the same as supply.
When China halted gravel exports in March, Taiwan was faced with a 2 million cubic meter shortage of sandstone. The government took emergency measures, including releasing stock and importing gravel from other Asian countries. China's Ministry of Commerce has recently that said it was considering resuming gravel exports to Taiwan.