1. The futures price is based on the spot price. Although futures are mainly sales contracts, futures will eventually be delivered in kind, so spot prices will have an impact on futures prices. Futures prices are like the market's expected prices for spot prices.

2. The futures price has a great influence on the spot price, because after the futures are listed, the futures price will affect the trade activities of commodity producers and operators because of its competitiveness and authenticity. Without considering other factors, the futures price will also drive the spot price to rise.