“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...