Agreement materials: legally synonymous with the contract. As long as this agreement provides clear, specific and affirmative provisions on the rights and obligations of both parties to the contract, it will be binding on both parties and this contract once it is signed and confirmed by both parties. Generally, it is cheaper than buying directly, but it also has a negative side, just like domestic steel enterprises have been making trouble: if the spot price of iron ore continues to fall due to demand in the later period, for example, the price of spot ore and contract ore is upside down in the third quarter, which may reappear in the fourth quarter.
Futures: Futures are relative to the spot. Futures are the subject matter that is bought and sold now, but will be settled or delivered in the future. This subject matter can be gold, crude oil, agricultural products, financial instruments, financial indicators and other commodities. The delivery date of futures can be one week later, one month later, three months later or even one year later. A contract or agreement to buy or sell futures is called a futures contract. The place where futures are bought and sold is called the futures market. Investors can invest or speculate in futures. Improper speculation on futures, such as short selling stocks, will lead to financial market turmoil.