futures delivery refers to the process that when a futures contract expires, both parties to the transaction end up closing the contract at the end of the period through the transfer of the ownership of the goods contained in the futures contract. There are two delivery methods: cash delivery and physical delivery.

China's commodity futures trading all adopts physical delivery. Physical delivery methods include centralized delivery and rolling delivery.

centralized delivery refers to the mode of centralized delivery after the closing of the market on the last trading day, and it is a kind of warehouse delivery mode. On the final delivery date, the buyer and the seller shall make one-time delivery, and the warehouse receipt and the payment shall be transferred at the same time. The delivery price shall be calculated according to the weighted average price of the settlement price of all trading days in the delivery month. Centralized delivery can effectively avoid delivery default and leave enough time for the seller to provide VAT invoices and the buyer to raise money.