There is a spread between the futures price and the spot price, which mainly reflects the position fee. When the price difference is too large, there will be spot arbitrage trading, which makes the price of the same subject matter in the two markets close and tend to be reasonable.
If international speculators want to raise futures prices, they must hold a certain market share of the spot at maturity, and at the same time have a large amount of funds to ensure that they cannot be fully digested by the futures market, and then sell their positions before the delivery month, and sell them in the spot market or deliver them in the futures market at maturity.