Futures price - based trading refers to a trading method in which the futures contract serves as the pricing basis, and the spot price of the commodity to be bought and sold is determined by adding or subtracting the premium or discount agreed upon by both parties to the futures price. In recent years, based on the on - exchange trading of ferroalloy futures, the Spot Network has continuously been close to the market and innovated, building an over - the - counter trading platform for ferroalloy futures and implementing a spot price - based procurement trading mechanism.