I bought this bit to cut HDPE plastic. I had to clean it after every few holes because the chip foil melted the plastic. My cutter was also the wrong size as the slot it cut was .245" wide instead of .25" as advertised. The bat stayed cold throughout the cut. I have not tested this on other plastics. If precision isn't important, this might work for you. It may work better on other plastics as well. Maybe I just got a bad sample.
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