Do you follow lead rates every day? You’ll learn how to solicit fast quotations with an NYMEX rates API!
The New York Mercantile Exchange has a permanent residency in Manhattan. Its activity started in 1882 and nowadays handles billions of daily transactions. Above all, this financial entity works with a commodity futures exchange that includes oil, energy carriers and metals. Futures market work with a defined quantity of commodities. Plus, they establish a specific price and a date to deliver it later. Probably, in months or years.
Over the last month, those kinds of futures transactions became even more relevant due to the volatility of metals prices. The lead didn’t stay out of those rate movements. Its price has decreased every day since early May. That phenomenon is entirely different from what’s been since the late ’80. Because lead started to increase and never stopped until the last few weeks.
The impressibility that the war in Ukraine brings with it also promotes phenomena that we are seeing for the first time. However, despite the tragic moment we are experiencing, some alternatives will help you.
These days, you can start using an API to reach stability and accurate data daily. Above all, it’s a friendly software that you can learn to utilize immediately and for free. Plus, it will provide all the quotations of lead that you want in seconds. And the best part is that you won’t have to buy a new device to use it. Below, we’ll give more details.
How can an API provide NYMEX rates on lead?
Honestly, the process is more simple than you imagined. Due to its AI (artificial intelligence) technology-based system, this tool can collect data from different sources. The search only last seconds.
Generally, those services support their answers in more than one bank and financial entity. Most likely, all of them have international popularity. Of course, NYMEX and other historical stock exchanges (London, NY, Tokyo) are sources of permanent consultation.
Metals-API has lead rates from NYMEX and more
If you visit its website, you’ll see a chart with multiple codes for precious metals and world currencies. Consequently, you can send a request to know the rate of precious metal in a specific currency or ask to exchange one of the hundred currencies available for another. So look carefully at the complete list to learn the code for your query.
The variety of Metals-API plans to get lead rates
This company offers many alternatives to utilising the API. In the first place, you have a free account with fifty API calls per month. Also, a return period of an hour approximately. That is the most simple proposal. Some choose this one in the first month to learn how it works.
Then, you have several subscriptions with a cost and many more features like dedicated technical assistance. With these packages, you don’t have to wait longer. In fact, the average wait is one minute. Plus, the number of API calls is considerably superior.
You might want to read:
https://www.thestartupfounder.com/follow-lithium-in-real-time-for-your-metallurgical-company/.
Also published on Medium.