China Probably to Tight Issue of Letter of Credit for Nickel

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China Probably to Tight Issue of Letter of Credit for Nickel

Thursday, July 26, 2012
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[Ferro-Alloys.com] It is reported that Bank of China may probably tight the issue of letter of credit for nickel importers, following the forbidding copper credit letter’s issue by the beginning of the year.

One Shanghai trader revealed that they have already switched to nickel market for financing instead of copper market because banks refuse to issue letter of credit for copper.

Nickel is usually regarded as a mortgage since it has the letter of credit after copper.

[Editor:editor]

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