In other words, it leads to a relative decline in the price of forward contracts. Usually, the forward market is the normal state of the futures market, that is, the forward price is higher than the recent price. However, if the demand exceeds the supply, the price will rise rapidly in the near future, forming a reverse market higher than the forward market. The recent increase in contract price is mainly caused by the global supply shortage. In the downward trend, because the contracts in recent months are close to the delivery month, the futures price is close to the spot, and the margin ratio will also rise, so both bulls and bears will move to the distant month. Futures delivered account for a small proportion, mainly from corporate customers, which is inconvenient for individual customers.