The seller shall deliver the goods to the warehouse designated by the exchange within the time limit specified by the exchange, and issue a warehouse receipt after the warehouse is qualified, which will become a valid warehouse receipt after being registered by the exchange, or directly purchase a valid warehouse receipt at the midfield; After entering the delivery period, the seller submits a valid warehouse receipt, and the buyer submits the full amount to the exchange for delivery procedures. The exchange will impose certain penalties on either buyer or seller for breach of contract. If, within a certain period of time after receiving the goods, the buyer thinks that the quantity, quality and other indicators of the goods are not in conformity with the provisions of the futures contract, he may propose mediation or arbitration, and the exchange has clear procedures and handling methods for this.

Because the purpose of futures trading is not spot trading, but to earn the difference through buying and selling contracts to preserve value, there are actually not many contracts for real physical delivery in futures trading. Too much transportation indicates poor liquidity in the midfield; Too few deliveries indicate that the market is speculative. In the mature international commodity futures market, the delivery rate is generally below 5%, and the delivery rate in China's futures market is generally below 3%.

Require physical delivery in the name of a member. The physical delivery of customers shall be carried out on the exchange by members' representatives in the name of members.

Physical delivery date: the physical delivery date is from 16 to 20 (postponed on holidays) in the month when the contract expires.

(1) Buyer declares intention. The buyer shall submit the letter of intent for the required goods to the Exchange before 12: 00 on the next working day of the last trading day (15 of the contract delivery month). The contents include name, brand, quantity and the name of the designated delivery warehouse.

(2) The seller shall submit standard warehouse receipt and special VAT invoice. The seller shall submit the standard warehouse receipt and the special VAT invoice for paid storage fee to the exchange before 18+06: 00. If 18 is a legal holiday, it will be postponed to the first working day after the holiday. If it is the 20th, the seller must complete the delivery before 12: 00.

(3) The exchange allocates standard warehouse receipts. According to the existing resources, the exchange issues standard warehouse receipts to buyers.

For the standard warehouse receipt that cannot be used for the delivery of the next futures contract, the exchange will distribute it to the buyer according to the proportion of the total delivery in the current month.

(4) Payment and receipt of the buyer. The buyer must deliver the payment to the exchange before the final delivery date 14: 00, and obtain the standard warehouse receipt after payment.

(5) The seller collects the money. The exchange shall pay the payment to the seller before the final delivery date 16: 00.