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NewsSSESSMENTS: Regional Trader Submits Bid For Philippines PP Cargoes, Few Hundred Lower Than Initial Level

Author: SSESSMENTS

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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Transactions for export PP cargoes on LC at sight, FOB Philippines basis

OriginProductTransaction TypeOffers (USD/ton)
PhilippinesPP Homo RaffiaBid Given790

Tags: Asia Pacific,English,News,PP,Philippines,SEA

Published on April 16, 2020 6:27 PM (GMT+8)
Last Updated on April 16, 2020 6:27 PM (GMT+8)