“How do I keep up with neodymium pricing changes?” If your question is that, then we have great and excellent news to tell you! Did you know that there is an API that specializes in metal prices? Well, if you didn’t know, today you will find out!
The chemical element neodymium has the atomic number 60 and the symbol “Nd “assigned to it. Neodymium is a rare earth element that is a member of the lanthanide series. It is a hard, slightly malleable silvery metal that quickly dulls with air and moisture. When oxidized, neodymium reacts rapidly to produce pink, violet/blue, and yellow compounds in the +2, +3, and +4 oxidation states. Neodymium was discovered in 1885 by the Austrian chemist Carl Auer von Welsbach. It is present in significant amounts in the ore minerals monazite and bastnäsite.
Although neodymium is classified as a rare earth element, it is quite common, no rarer than cobalt, nickel, or copper, and widely distributed in the earth’s crust. Most of the world’s commercial neodymium is mined in China. An important use of neodymium is as part of the alloys used to make high-strength neodymium magnets – powerful permanent magnets. These magnets are widely used in products such as microphones, professional speakers, in-ear headphones, high-quality hobby DC electric motors, and computer hard drives, where low magnetic mass (or bulk) or strong magnetic fields are required. Another known use is as a glass tint.
Keeping up to date with metal prices, especially with a metal like neodymium, is no easy task. And finding a platform that gives you these prices is even more difficult. But this task is actually easy, it is easy if you use Metals-API! It is an API used by thousands of people and that you will surely be interested in using!
Why Metals-API?
Metals-API, an API (Application Programming Interfaces) as its name suggests, aims to make it possible for you to rapidly and dynamically get neodymium rates. In reality, this service will allow you to access real-time, updated neodymium prices with a 2 decimal place precision and the option of 60-second price updates. That’s incredible! You will be able to prevent anything that could happen with this metal by using these characteristics. The Metals-API has the ability to provide Time-Series data, fluctuation data, and the lowest and highest price of any day in addition to providing exchange rates for precious metals and converting between different legal tenders.
How is Metals-API used?
We advise reading and taking note of the following directions if all you want to do is get neodymium rates:
1. To begin, go to www.metals-API.com and click on “obtain API key”.
2. After choosing the join option, pick a plan from the main screen. There are a total of 8 plans. Before choosing the payment option that is best for you, we suggest you carefully grasp the differences between each one. The only differences are the number of “API calls” and the time to update the prices again.
3. Next, choose the metal you want—in this case, neodymium—and then the legal tenders. There are 170 legal tenders at your disposal.
4. When you finish, you just have to make the “API call” and that’s it, you will have the updated prices of the neodymium.
Also published on Medium.