Delivery is to narrow the spot price difference. If there is no delivery link, there will be no intersection between the two markets, which will easily lead to a big deviation between the two markets. Therefore, it is necessary to maintain the market by means of delivery. Generally, the proportion of people who finally enter the delivery link is very small, and they usually take the initiative to move the position for the moon before delivery.

As far as futures contracts are concerned, the delivery date refers to the date when the goods must be delivered. In commodity futures trading, individual investors have no right to hold positions before the final delivery date. If they don't close their positions themselves, they will be forced to close their positions by the exchange. Only the spot enterprises that apply for hedging qualification from the exchange and get approval can hold their positions until the final delivery date and enter the delivery procedure.