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Do commodity prices in futures have anything to do with transactions in the physical market?
Futures can reflect the trend of spot. Because the futures market has due delivery. Due delivery refers to the delivery of goods by short-selling enterprises and the payment of goods by multi-enterprises on the specified date. In this way, if the futures price is much higher than the spot price, the spot enterprise will sell on the futures, and the price difference between the spot and the futures will be narrowed. If the futures price is much lower than the spot price, many enterprises will buy in the futures market and the price difference will be reduced.