The internal market refers to the commodity futures market in China, which is usually under the supervision of the state. Intra-market trading time is short, and it usually only opens on working days. Different from the external market, the commodity prices in the internal market are influenced by many factors, such as internal and external market prices and internal market transactions. For professional investors and individual investors, paying attention to the internal market trend is not only conducive to understanding the domestic market trend, but also can improve investors' risk awareness and ability to seize market opportunities.
For traders in spot market, the difference between external market and internal market is very important. Foreign transactions are denominated in US dollars, so the exchange rate change of US dollars in foreign transactions will directly affect the spot commodity prices. The internal market is denominated in RMB and operates in the domestic market, so the internal market is mostly influenced by domestic policies and market expectations. At the same time, the difference between the external market and the internal market also leads to the difference of trading rules between the external market and the internal market, so it is particularly important for investors in the spot market to understand the difference between the external market and the internal market and their respective trading rules.