Generally speaking, the rise and fall of steel spot and futures are consistent, because the spot of steel is priced according to the market interest rate. Although there is a fixed contract for steel futures, it will also change with the change of steel prices.

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1. Futures, called futures in English, is completely different from spot. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts with certain mass products such as cotton, soybeans and oil and financial assets such as stocks and bonds as the subject matter. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.

The delivery date of futures can be one week later, one month later, three months later or even one year later.

A contract or agreement to buy or sell futures is called a futures contract. The place where futures are bought and sold is called the futures market. Investors can invest or speculate in futures.

2. Physical objects, also known as physical objects, refer to physical objects that can be shipped, stored and manufactured. The spot available for delivery can be converted into cash in short-term or long-term, or the payment can be made in advance, and the buyer pays in a very short time. Spot is the symmetry of futures.

Simply put, it is to buy and sell physical objects in the spot and futures contracts in the futures market. Therefore, the difference between spot market and futures market is as follows:

1, the transaction mode is different: in short, both the buyer and the seller think that the transaction can be concluded. However, the purpose of the futures market is not to get the real thing, but to worry about the future rise and fall of the spot, so it can be hedged or arbitrage.

2. trading places is different: the futures trading market is flexible and changeable, which is not affected by the trading time and place, and can be traded at any place. However, futures can only be traded on futures exchanges, and futures trading must be conducted in an open and centralized manner according to law. China Commodity Futures Exchange is owned by Dalian Commodity Futures Exchange and Zhengzhou Commodity Exchange.

3. Different guarantee methods: spot transactions are protected by contract law, but the futures market implements the margin system. If you don't exercise your rights according to the contract at maturity, you will lose the deposit.