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 you don't close your position by yourself, your position will be forcibly closed by the exchange, and all the consequences will be borne by the investors themselves.

The specific reasons are as follows:

Only the spot enterprises that have applied to the exchange for hedging qualification and obtained approval can hold their positions until the final delivery date and enter the delivery procedure, because they have hedging needs and qualifications.

The delivery price of Chinese stock index futures is calculated according to the arithmetic average of the last two hours of the spot index, so that the futures price will converge to the spot price on the delivery date.