Do you want to find a source to get neodymium prices? In this post, we recommend an API that is the best and most practical alternative to the prestigious Trading Economics.
Neodymium is classified as a rare earth metal. It is in a solid state at ambient temperature. It is a silvery, hard, slightly malleable metal that tarnishes quickly in air and moisture. When oxidized, neodymium produces pink, purple/blue, and yellow substances.
It is widely regarded as having one of the most complicated elemental spectrums. Neodymium is often refined for overall use because it does not happen naturally in metallic form or unmixed with other lanthanides. Neodymium is a relatively widespread element in the Earth’s crust. China mines the majority of the planet’s commercial neodymium, as well as numerous other rare earth metals.
Neodymium is used in alloys that are used to create high-strength neodymium magnets, which are a type of powerful magnetic force. These magnets are commonly found in items such as mics, expert speakers, earphones, DC electric motors, excellent quality for hobbyists, and pc hard drives, where a low magnet mass (or volume) or strong magnetic fields are required. Larger neodymium magnets are used in high-power-to-weight-ratio electric motors and generators.
Use An API
This metal has important applications in the world. In addition, it is making an important entry into the metals market where some are known to be in short supply and used in major industries. Therefore, this metal can fulfill an enormous function.
In addition, neodymium comes from China, which is one of the most important importers and exporters of precious metals in the world. That is why, when wanting to invest in this metal both for its use in manufacturing and for asset-type investment, it is necessary to follow neodymium prices daily.
One of the best-known sources to do this is Trading Economics, which has quite up-to-date and complete information. However, some developers have found it impractical to incorporate it into their website or application, which has slowed down the developer work.
For this reason, we recommend Metals-API which has extensive documentation that you can use in PHP, JSON, or Python. This API, in addition to being very practical and simple, has reliable and updated information minute by minute. It gets its data from highly authoritative sources which is why it is an LBMA rates API.
Why Metals-API?
Metals-API is one of the most popular API options as it has really extensive and up-to-date information. You can find the metal you want, from the best known such as gold, silver, and palladium, to those that are part of the new market discussions such as neodymium, tungsten, or lithium.
Thanks to this API it will be much easier for you to become an expert in the precious metals market since you will be able to look at current but also historical prices and analyze the price fluctuation to understand the market activity much better. Moreover, you can watch the prices in the currency or currencies that you prefer.