Generally speaking, the first category is enterprises directly related to futures varieties, such as copper, smelters are also suppliers, processing plants are demanders, and both direct upstream and downstream enterprises can hedge. For example, beans, big buyers, that is, enterprises that buy beans directly from farmers, are suppliers, soybean oil plants or bean food processing plants, and demand sides. They are also direct upstream and downstream enterprises and can hedge.

The second category is similar. For example, I am in the steel plate business, and there is no plate in futures, so I can hedge it with rebar, because the varieties are similar.