Are you looking for a dependable source for magnesium prices? We’ll suggest an API with China Market pricing in this case.
Investing in metals is difficult, and the reason for this is that the market is quite volatile. Because Russia and China are the largest global exporters, several metals have surged in value as a result of the geopolitical situation. Magnesium isn’t an exception to this rule. China produces 18 million tonnes of magnesium per year, followed by Russia and Brazil, each with 1.5 million tonnes.
China is home to the majority of magnesium production. As a result, if you’re considering investing in this metal or one of its related sectors, keep up with market metal pricing. You must maintain an eye on the core of the company, the Chinese market if you want to be on the investor’s stage.
The Shanghai Stock Exchange (SSE) is a Chinese stock exchange located in Shanghai. It is one of mainland China’s three autonomous stock exchanges, together with the Beijing Stock Exchange and the Shenzhen Stock Exchange.
You’ll need the correct tools to collect this information. We recommend using an API that gives current and historical magnesium prices in China for this purpose. Depending on the data, you can identify the best moment to invest.
What Is An API?
An application programming interface (API) is a technology that allows system components or applications to connect. A few services may be beneficial, however, keep in mind that not all of them are available or provide the same information.
It’s easy to discover an API, but it’s more difficult to find one that gives magnesium rates in Shangai units. Metals-API is one of the largest precious metals databases in the world, and it collects these data. You can also use the API to integrate it into your website or app and collect current and historical rates using the plugins on the page.
Follow these procedures to obtain the information:
- To get your API key, go to www.metals-api.com and type in your email address.
- Look up the symbols you’ll be using. Magnesium (MG) or your China readings can be used.
- Before making the API call, use these indications to add metal and currency to the list.
- To finish, hit the “run” button.
About Metals-API
Metals-API gives you access to real-time metals pricing data. There are almost 170 currencies accessible, including the yuan, euro, and cryptocurrencies. The data is provided by well-known institutions such as the Shanghai Stock Exchange.
Price fluctuations may also be used to figure out what’s driving the change and when the optimum moment is to buy. You can download the API in JSON, Python, and PHP to programmatically integrate it.