Do you want to know what other options there are for getting lithium prices than Trading Economics? Three API possibilities are discussed in this article.
Lithium is a soft, silvery metal. The density of all metals is the lowest. It reacts violently with water. Renewable sources for mobile phones, netbooks, and electric vehicles are all made of lithium. Lithium batteries that are not rechargeable are used in cardiac pacemakers, games, and clocks.
With several countries vowing to phase out new gasoline and diesel engine automobiles by 2040, the recent growth in EV usage has sparked a global boom in lithium manufacture. Between 2016 and 2020, lithium output more than tripled, rising from 40,000 to 86,300 tonnes.
China has been at the forefront of the lithium race as the world’s third-largest lithium producer. Since 2018, Chinese companies have invested over $5 billion in lithium mining projects across numerous countries. Furthermore, the country controls the refining and battery manufacturing phases of the lithium-ion supply chain.
The United States generated about 900 tonnes of lithium in 2020, accounting for less than 1% of global output. This is primarily because, despite possessing the world’s fifth-largest lithium resources of 750,000 tonnes, Nevada only has one lithium-producing mine. Since 2015, global lithium output has climbed by an average of 27% each year.
To summarize, this business continues to grow year after year. If you want to perform in the lithium sector or if your company runs on lithium, you must be informed of current prices. You should be aware of all the elements that affect lithium price. As a result, you’ll need to use an API.
A programming interface (API) allows various devices or programs to communicate with one another. You’ll have to keep an eye out and rely on technology for assistance. While a few websites may be helpful, keep in mind that not all of them are accessible or provide the same information. Three alternatives are presented here.
Metals-API
This API will help you to gather all the metals data. It works with more than 17 currencies and metals around the world. It collects information from the most reliable sources such as COMEX/NYMEX rates, and LME values. It’s one of the most secure platforms to care for your entries.
You can watch historical prices, fluctuation data, and actualizations in real time. In this manner, you will be fully informed to decide the best moment to invest. In addition, it’s very easy to incorporate into your website, or apps, because it makes responses in Python, PHP, and JSON.
CurrencyLayer
Currencylayer is a simple REST API that provides real-time and historical exchange rates for 168 worldwide currencies and precious metals in a publically accessible and easily parsable JSON format that can be used by any software. Its goal is to provide groups and individuals with the techniques they need to handle what should be digitalized while focusing solely on creating outstanding products. It has a global client base.
Ice
Customers’ precious metals trades are handled by them, along with the most popular micro gold and silver futures and options markets, as well as iron ore trades based on Platts and The Steel Index (TSI) basis. Using liquid and open marketplaces and improved delivery mechanisms, they enable banking firms to more successfully handle their assets and conduct investment and insurance programs.