As reported by SSESSMENTS.COM, a regional trader submitted a bid for Philippines PP cargoes at a few hundred lower than the initial offer level. Considering the current market situation, the trader submitted a bid for PP Homo Raffia from the Philippines at $790/ton, or a few hundred lower than the initial offer level, which got rejected by the producer.
As the Coronavirus continues to spread, the Philippines have put their citizens under lockdown with only essential businesses being allowed to function and minimized social activities. Amid partial lockdown, some buyers are waiting on the sidelines, while others started to make inquiries. The trader opined that the government will lift the lockdown restriction on manufacturers and shipping industries by May, while the other sectors will remain restricted.
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