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Asian Demand for Plastic to Defy China Economic Slowdown

from Reuters

Asian demand for plastic is set to defy economic slowdown in top consumer China and other nations, growing as plunging oil prices make it cheaper to churn out and as fast-expanding online markets boost appetite for items like packaging and wrapping. Prices in China for polyethylene, the most commonly used plastic which is found in everything from shopping bags to ice cream tubs and even artificial joints, have plummeted over a quarter from a year ago to an average of $1,140 a ton in September according to data from commodity research company Wood Mackenzie. more

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