Warehouse queues are not LME’s fault, says Alba exec

Financing deals have always existed in the metals trading world, they’ve just become heavily industrialised, a senior executive at Aluminium Bahrain told Metal Bulletin.

Industrialised Deals “Cash and carry always existed. It existed in the ’80s and ’90s and as long as you have a contango, you will have a cash and carry,” Jean-Baptiste Lucas, chief marketing officer at Alba said. “The only difference is that now it has been industrialised as in all industries when you have a good way of making money. It is what the London Metal Exchange is meant to be for – we cannot complain about the LME being a financial tool,” Lucas told Metal Bulletin. The LME is meant to be a market of last and not first resort, he pointed out. “Last resort means there are many other options...

Published

Andrea Hotter

January 23, 2013

07:40 GMT

Coronado, California