Are you looking for a metal rates API with data from MCX in 2022? You should read this post!
The Multi Commodity Exchange of India Ltd (MCX) is an Indian goods and metals exchange. It is owned by the Government of India’s Ministry of Finance. It was founded by the Indian government in 2003 and is now situated in Mumbai. It’s the largest commodities derivatives exchange in India. MCX offers gold options trading (this country is the largest importer) as well as nonferrous metals, bullion, energy, and a variety of agricultural futures market trading (mentha oil, cardamom, crude palm oil, cotton, and others).
According to the most recent year data from the Futures Industry Association (FIA), MCX was one of the top worldwide items exchanges in terms of the volume of futures contracts traded.
The following commodities are traded: Bullion – Gold, Gold Mini, Gold Guinea, Gold Petal, Gold Petal (New Delhi), Gold Global, Silver, Silver Mini, Silver Micro, Silver 1000. Metal – Aluminum, Copper, Lead, Nickel, Zinc. Cardamom, Cotton, Crude Palm Oil, Kapas, Mentha Oil, Castor seed, RBD Palm Olein, and Black Pepper are examples of agricultural products. Crude oil and natural gas are both sources of energy that can be found in this market.
The introduction of locally benchmarked deliverable futures contracts for Copper, Aluminum, Zinc, Lead, and Nickel on the MCX has cleared the way for the discovery of Indian market pricing for metals on a transparent exchange platform. This is a significant step toward the creation of indigenous benchmarks that reflect domestic market dynamics while maintaining international delivery requirements.
The Multi Commodity Exchange of India (MCX) publishes live streams for all goods on a variety of websites. It is possible thanks to the APIs. API is the abbreviation for Application Programming Interface. So, what does it mean? It’s a program application that enables two or more devices to communicate and exchange data. It’s a typical occurrence in online banking and social networking sites. It shows in computer languages so you can integrate this data into your webpage or app.
There are various APIs that provide metal data on the internet; regrettably, not all of them use the Shanghai market to transmit rates. Metal rates may be found at Metals-API.
About Metals-API
Metals-API gives information on nickel, gold, palladium, and HRC steel, among other metals. In addition, you can watch the values of these items in over 170 other currencies, such as physical and digitals ones. It gathers information from well-known financial institutions. COMEX/NYMEX rates are also available. It is also used by businesses of various sizes, such as Barrick Gold, a global mining firm.
It’s a very accurate API since it provides live precious metals data. Utilizing present and historical prices, you may examine indicators and identify the optimum time to invest. Metals-API may also be used to identify data fluctuations for this purpose.