A Philippines converter reported to SSESSMENTS.COM on receiving four digits offers for mLLDPE C6 and the current situation in Manila. According to the converter, offers for mLLDPE C6 from a Singaporean producer were adjusted up between $20-30/ton compared to last week, now at $1,000/ton on LC at sight, CIF Manila Port. The converter did not take the cargoes as the offers were too high. Besides, the converter has purchased cargoes of US origin at far lower prices previously, at $740/ton with the same payment and delivery terms. For HDPE Film, the converter prefers cargoes from Thailand to US origin.
Pertaining to the production rate, the converter told SSESSMENTS.COM that the company increased the rate by 5-10% this week from 25% in the previous week. Although the number of orders received increased, the converter was unable to push up the production rate due to shortage of labor. Workers are either unable to go back to work because of transportation issues or unwilling to do so as they already feel comfortable with the subsidies from the government. The converter added that Metro Manila is now under modified Enhanced Community Quarantine (ECQ) status, hence, more manufacturers in the Philippines resume production.
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