If you are looking for an API to obtain rates in tonnes about LME Steel Scrap Turkey, you should read this.
Steel scrap, also known as obsolete scrap, is the most common type. It’s made up of any superfluous steel goods that have outlived their usefulness. It is often gathered when steel items reach the end of their useful life. When making steel items, immediate scrap is obtained. Punching, twisting, drilling, and cutting are examples of this sort of scrap.
The worldwide scrap steel market, which was forecast to be 574.5 million metric tons in 2020 but was updated to 748.2 million metric tons by 2026 due to the COVID-19 problem, is expected to increase at a compound annual growth rate of 4.5 percent throughout the analysis period. As you can see this metal production is very high and will continue growing. For this reason, you must stay updated about steel scrap rates in tonnes in real-time to decide the best moment to invest. The tool that you need for this objective is an API.
What Is An API
It means Application Programming Interface. This is a program that lets two programs communicate with each other. On the internet, there are many of them, but not all of them supply the same information.
As a result, we recommend Metals-API, which is quickly becoming one of the most comprehensive APIs for precious metal values. You may be able to use many metals and currencies on your website if you use this program. It gives you real-time information on your metal. You may also look into past information and see how output fluctuates.
Follow these steps to obtain it:
- www.metals-API.com will supply you with an API key.
- Take a look at the Steel Scrap (STEEL-SC) and the currency symbol you’ll be utilizing.
- Before concluding the API call, use these symbols to add metal and money to the list. You may choose from a variety of programming languages (PHP, Python, and JSON) and price points.
- All that’s left to do now is hit the “run” button, and you’re done! The API will be displayed to you on your device.
- Keep in mind that the rates in this API are in troy ounces. Multiply metals-rate APIs by 3.11035e-5 to get tonnes. You’ll be able to receive the needed pricing after that.
Why Metals-API
Metals-API began as a simple, lightweight Open-Source API that allowed banks to access current and historical precious metals prices. This API delivers real-time precious metals data to two decimal places, with a 60-second refresh rate.
Precious metals exchange rates, single currency switching, Time-Series data, volatility statistics, and the day’s lowest and highest prices are just a few of the features available. Metals-API can compute precise precious metal exchange rates in more than 170 currencies worldwide, including Bitcoin and other major cryptocurrencies.