In the process of soaring iron ore spot prices, iron ore futures prices have followed defensive follow-up. From the statistics from April 1 to the present, in the current price changes, the spot is faster than the futures and higher than the futures. Qiu Yuecheng, director of black research at China Everbright Futures Research Institute, believes that futures prices have been lower than spot prices this year, and that futures prices have risen more slowly than spot prices during the rise.

Statistics show that from April 1 to June 22, the main contract of Dalian iron ore futures, that is, the settlement price of 1909 contract to be delivered in September rose from 716 yuan / ton to 822.5 yuan / ton on June 22 , an increase of 29%. In the same period, the Platts index price rose from 87.9 US dollars / ton to 116.4 US dollars / ton, an increase of 32%. Dalian iron ore futures prices rose less than the overseas Platts index.

Obviously, the domestic futures market as a price generation platform, due to the game between the long and short sides, the expectations of the two sides for future spot prices, making the price of iron ore futures lower than the spot price and the Platts index, reflecting the market investors' future The expectation of increased supply is a defensive and rising trend compared to the spot market, reflecting the market's rational expectations for future trends.