Usually refers to a cash market price for a physical commodity that is available for immediate delivery.

通常指一个可以立即进行交易的货物的市场价格。

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Nowadays, an international copper market formed by physical commodity and futures has been substantially integrated.

当今，由现货和期货构建的国际铜市场已经形成大融通。

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Physical commodity markets that are heavily dependent on China such as iron ore and rubber are down 10-15 per cent since mid-February.

自2月中旬以来，对中国依赖度很高的实物大宗商品市场——如铁矿石与橡胶市场——已下跌了10%至15%。

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They argued for a currency based entirely on tokens, with no link to an underlying physical commodity.

ECONOMIST: The lessons of sound money from 1,000 years' experience

But no actual trading of the physical commodity needs to take place.

FORBES: The World Development Movement Seems Very Confused Here

More than a physical commodity, gold is a symbol, harking back to the times when the world's monetary systems were based on it.

FORBES: Magazine Article