Chasing otter around bar (5)
I believe the answer is:
ingot
'bar' is the definition.
(block of metal, eg a bar of gold)
'chasing otter around' is the wordplay.
'around' says the answer is hidden in the clue.
'INGOT' can be found hidden inside 'chasing otter'.
(Other definitions for ingot that I've seen before include "Block (of steel, gold, etc)" , "Mass of metal, especially gold or silver" , "Mass of cast metal" , "this must be cast" , "A lump of metal like gold" .)