The so-called futures have two concepts: first, it refers to the transactions in the futures trading market, which are contract trading, hedging or speculation; Second, it refers to physical sales, that is, the actual delivery date of the goods agreed in the contract, and shipment or delivery at some time in the future. This corresponds to spot trading in trade, because it is not delivered immediately, so it is called futures.

Imported coal or iron ore is called futures in the industry if the goods are already in the domestic ports and docks and are in stock, and the contract stipulates that it will be shipped within 30 days or 45 days at the foreign port of shipment.