The Iran war’s oil shock causes a plastic shortage in Asia, squeezing industries and prompting a ‘Middle East plus one’ rethink of supply chains

The ongoing conflict in Iran has led to significant disruptions in oil supply, resulting in a plastic shortage across Asia. This supply shock is primarily transmitted through increased production costs and reduced availability of raw materials, which are critical for various industries reliant on plastic. Asian manufacturers, particularly in sectors like automotive and consumer goods, are most exposed due to their dependence on imported plastics. Traders will be closely watching for any developments regarding alternative supply chain strategies, particularly the 'Middle East plus one' approach, which may be discussed in upcoming industry conferences or trade reports.

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