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The phrase "are placing" is correct and usable in written English.
It can be used in contexts where an action of putting something in a specific location is currently happening or is planned to happen.
Example: "They are placing the furniture in the new office to create a more open workspace."
Alternatives: "are putting" or "are setting".
Dictionary
Exact(53)
"People are placing orders a bit later.
And still others are placing their bets on "biorefineries".
"Employers are placing a premium on maturity," he said.
In this one, the rival zoos are placing the wager.
That's one area where we are placing our bets".
We are placing you in a better home for now.
Similar(7)
India and China in recent years are placing increasing importance on social protection.
"We are placing emphasis here because the situation is on the verge of explosion".
Such programmes reflect the importance that donors are placing on impact demonstration.
The survey also highlights the growing burden stress levels are placing on managers.
The suspension demonstrates the importance we are placing on effective communication in English".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com