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What Is Spot Market?

Learn how the Spot Market can add flexibility to your supply chain

Spot market is a one-time shipping price based on the market quoted in real time. It reflects shipping prices that exist right now — how much it costs to ship cargo if you were to ship it on the spot. Many things affect spot market rates including the current market, supply and demand, the weight of the shipment, and the distance the cargo needs to go. At times, securing truck capacity via the spot market makes sense. However, this type of freight transportation is typically expensive.