Defined as: under the normal supply and demand relationship, the spot price is relatively lower than the futures price, and the recent contract price is lower than the forward contract price. Because the basis relationship between the near low and the far high of the contract reflects the normal position fee, it is also called positive market.

2. Normal? Spot premium is called spot premium.

Its definition is: under special circumstances, the spot price is higher than the futures price (or the contract price in recent months is higher than the contract price in forward months), and the basis is positive. In the reverse market, with the passage of time, the spot price and futures price will gradually converge to the delivery month, just like in the forward market. ?

Extended data:

1, copper-the representative of spot premium

Through the observation of recent contracts and forward contracts in similar commodity markets, and the comparison between spot market and futures market, it is found that some raw materials such as copper, American crude oil, Brent crude oil and even civil fuel oil have recently experienced spot premium. One of the main reasons for the spot premium is that the supply and demand of a certain kind of goods are obviously unbalanced.

2. Representative of crude oil futures premium

To some extent, futures premium and spot premium are opposite. Spot price is lower than futures price or recent contract price is lower than forward contract price. The most obvious premium for futures is crude oil.

Baidu encyclopedia-spot premium

Baidu encyclopedia-futures premium