There are two ways to weigh steel bars: theoretical calculation (adjustment for short) and weighing (weighing for short). Weighing is the actual weight, but theoretical calculation is very different from weighing. Generally, the difference is 30 kg to 45 kg, that is, 3% to 4.5%. According to the calculation method of 3,500 yuan/ton, the difference between the two is 654,300. The delivery method of rebar in Shanghai Futures Exchange is weighing, so it is normal that the price of the same variety in the previous period should be higher than the spot price 100 yuan-150 yuan.

And if you add six months' storage cost and capital cost, it is about 150 yuan, so it is completely normal that the steel futures price is higher than the spot price 300 yuan.