The domestic spot market firm up substantially as the Rupiah surges above the 15,000 threshold against the US dollar. Among the grades, limited supply due to the shutdown at Pertamina’s plant kept PP film offers at the high side of the overall price range.
From traders’ perspective, the Rupiah depreciated 1.3% in a matter of days, which translated into higher replenishment costs. Traders are firm on the offers to protect the bottom lines even though buying interest declined sharply from the previous week.