1. Generally speaking, futures prices run on the basis of spot. At the same time, futures prices in turn affect the trend of spot prices. This is one of the reasons why the spot price rises faster than the futures price. For example, the rise in the spot price of copper will inevitably stimulate the rise in futures prices immediately. In this way, spot prices will increase their efforts when they see futures prices rise.

2. Hedging between futures and spot is not so simple. First of all, the futures price does not simply follow the spot price. Futures prices are influenced by many factors based on the world economy, such as oil, competition among big countries and domestic political turmoil. Therefore, hedging should take these factors into account. Secondly, hedging is the basis of ultimate profit. Therefore, grasping the time period is the key. The quantity of the third hedging, etc. "Futures losses offset most of the inventory appreciation" This is the hedging of the futures market, which involves the registration of warehouse receipts. When the futures market is short or long, it is generally short. Then, the price increase is partially offset by the registered warehouse receipt, and the loss is only the handling fee, and there will be no loss in cost accounting.