Asian plastic and steel prices tumble as exports surge from China

Chinese slump creates supply glut throughout region

20221223N China steel

China's steel exports have ramped up amid sluggish domestic demand. © Reuters

SHINICHI ARAKAWA, MOMOKA MATSUMOTO and YOSUKE KAWAJI, Nikkei staff writers

TOKYO -- Prices for commodities like petrochemicals and steel have plunged from highs earlier this year as Chinese producers respond to weakening domestic consumption by turning to export markets.

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