1. High-risk speculation: Without price protection, speculators can make high-risk speculation when the market price fluctuates greatly, resulting in more intense market fluctuations. This will lead to the instability and unpredictability of the market and increase the market risk.
2. Price out of control: Without price protection measures, futures prices will be out of control due to speculation or other factors, leading to extreme price fluctuations. This situation leads to market chaos and abnormal investment environment, which harms the interests of investors.