Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper Co., Ltd. Shanghai Copper 02 and 03 are specific contracts that expire in February and March. The two refer to different things.
Continuous because futures contracts are closed, that is, they all have fixed expiration dates, so if they are continuous, the price after three months will be displayed, so that their prices can form a continuous price graph for you to learn, but you can't trade. LME copper March is Luntong March, which means the average price of the last three months can be understood as mid-month, so it has not expired, so its graphics have been continuous, and its delivery needs to be added.
Because most futures contracts have a delivery period (or an uncertain period, such as LME March copper, which will be explained later), the longest contract period usually does not exceed one year. In order to facilitate research, many market quotation systems have set up "continuous" contracts.
Such as Shanghai Copper Company Limited, Shanghai Copper Company Limited, Shanghai Copper Company Limited, Shanghai Copper Company Limited, etc. The continuous contract here does not refer to a specific contract, but a change. For example, XX Co., Ltd. is the first trading contract after the current delivery, XX Co., Ltd. is the third trading contract after the current delivery, and so on.
As for why this is set up, according to the law of market changes for a long time, traders find that the futures contracts that are closest to the current delivery month one month and three or four months later are the closest (most representative) to the spot expected price and the most active.
Therefore, this contract price is constantly studied (throughout the year), so market data such as "XX continuous", "XX continuous three, even four" are set.
As for LME (London Metal Exchange) March copper and other contracts, they are continuous contracts with no delivery period and no specific delivery date. Traders can choose any date for delivery. Its quotation is only used as the basic standard of insurance premium on delivery.