The trading of metals into India is likely to be severely affected by difficulties in opening letters of credit (LCs) now that the country is locked down to contain the spread of the novel coronavirus (2019-nCoV), sources told Fastmarkets on Wednesday March 25.
The Indian government imposed the 21-day nationwide lockdown beginning Wednesday, which includes strict curfew measures on the country's 1.3-billion-strong population."There is still a lot of paper pushing in Indian banking. For people to open...