Asia Plastic-Makers Frustrated by Delay in China Demand Recovery

(Bloomberg) — Asian plastic-makers have been eagerly anticipating a post-lockdown pick-up in Chinese consumption, but weak consumer demand and high inventories mean it could be a long time coming.

Petrochemicals has been the hardest hit segment of the oil market this year. Covid-19 restrictions in manufacturing giant China decimated demand over April and May, while the invasion of Ukraine upended fuel flows and raised costs for naphtha, a major feedstock.