What is the spot price of metal?
The spot price is the current market price for immediate delivery of a metal commodity. For aluminum, copper, and steel, spot prices fluctuate daily based on global supply and demand.
Related Terms
LME Price(LME)
The London Metal Exchange (LME) sets the global benchmark prices for base metals including aluminum, copper, zinc, nickel, and tin. LME prices drive pricing at distributors and service centers worldwide.
Steel Distributor
A steel distributor purchases steel from mills and resells it to manufacturers, fabricators, and machine shops. Also called a steel service center, they stock common grades and sizes for fast delivery.
Metal Service Center
A metal service center is a distributor that buys metal in large quantities from mills and resells it in smaller quantities with value-added processing such as cutting, sawing, and slitting.