Report of new lockdown regulations in parts of the Philippines for beginning of August 2020.

There are reports of new lockdown regulations in parts of the Philippines including Manilla, starting from tomorrow 4th August, as cases of COVID-19 continue to rise and the government vows ‘recalibrated’ strategy vs COVID according to the CNN Philippines website.

Primex expects that this should not impact them significantly, as the lockdown locations are not near their factories in the area. And staff already work every other day as a safeguard. Also, Primex staff are not using public transport to get to work as a further precaution.

We see production slowly catching up, however as things change on the ground, we expect that if there are any other changes to regulations, the catch up may slow down.

We are seeing prices stable right now but expect increases towards the end of the year and positions are filling up quickly for the last three months of 2020. And we predict that there will be supply issues into Q1 2021.