If 1# is only hedging, the closing price is = 205-(200-192) =197, but this will lose some futures trading costs. If this part of the cost is included, it depends on the specific transaction cost and then 197- transaction cost.

2# 1, 65438+ 10 month foundation 750 March foundation 630

2. The future is positive.

3. The basis becomes smaller

Hedging loss per ton 120.

3# earns 50 dollars per ton.

4# As long as (September contract-June contract+transaction fee)

5 # May liquidation profit and loss+July liquidation profit and loss > 0 is ok, but it is too 2. Buying 8350 and selling 83 10 is not in line with business rules.

6# hedging