A Philippines trader shared with SSESSMENTS.COM on the pricing outlook for the PP market in the country as the government imposed various categories of quarantine restrictions. According to the trader, there will be no more low PP prices in the Philippines as market players have lost the opportunity to get lower PP prices due to the lockdown in the country.
Further explained, all areas in Luzon, except for Metro Manila, are currently under general community quarantine (GCQ). Some businesses and manufacturing including the polymer sector under GCQ will be allowed to reopen and to run production up to 80% from the normal rates. In contrast, the plastic industry in Metro Manila is still not allowed to operate as the area is still under enhanced community quarantine (ECQ). At the moment, no official announcement yet from the government, however, market players believe that the government will put Metro Manila under GCQ after May 15. The trader opined to SSESSMENTS.COM that businesses could not remain closed as it will paralyze the country’s economy.
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