1. Sell 200 tons of copper futures with the delivery date of 1 106, that is, 40 lots (the specific quantity depends on the exchange, and the Shanghai Stock Exchange is 5 tons).
2. Settle future positions and deliver the spot to the buyer before June.
The results are as follows:
In the futures market
The futures price 1 106 rose from 60300 to 60600. Because the middleman is the seller, every ton loses 300 yuan, and the subtotal loss is 300*200 tons = 60,000 yuan.
In the spot market,
The spot price rose from 60,000 to 60,300, earning 300 yuan per ton, and the subtotal earned 300*200 tons = 60,000 yuan.
Therefore, futures losses and spot profits offset each other, and middlemen successfully avoided the risk of price fluctuations. It is worth noting that in reality, futures trading has procedures.
I hope it helps.