Meaning of “spot price” in the English Dictionary

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"spot price" in Business English

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spot pricenoun [ C ]

uk us FINANCE

the price of a product that is being sold in a spot market:

Massive current supply puts the spot price below the futures price.
The spot price for copper was about 84 cents a pound.
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(Definition of “spot price” from the Cambridge Business English Dictionary © Cambridge University Press)