1, with different definitions: the closing price refers to the price of futures contracts that are not traded on the day after the end of a trading day, while the settlement price is the weighted average price of the trading volume of a contract on that day.

2. The calculation method is different: the closing price adopts the transaction price of the last transaction of the day, while the settlement price is calculated according to the weighted average transaction price of Zhengzhou, Dalian and Shanghai commodity futures exchanges on the day after the closing. If there is no transaction price on that day, the settlement price of the previous trading day shall be adopted.