Do you want to get LME Copper spot prices? Check this API!
One of the most famous metals is copper because it is employed in many industries. Generally, it is used for electrical equipment such as power lines and motors. This is due to the fact that it can be drawn into wires and effectively transfers heat and electricity. It is used in both buildings (for example, roofing and plumbing) and industrial machinery (such as heat exchangers).
If you are interested in investing in this industry, it may be a good choice because this metal is used in a variety of industries. you should stay up to date on the prices in order to know when is the best time to invest in it and know when the price is going to increase or decrease.
Using an Application Programming Interface is the best technology for keeping up with metal pricing (API). One of the data sources available through this API is the London Metal Market (LME), the world’s largest exchange for industrial metals. You will be able to analyze the industry based on prices and see how it has changed over time using this technology.
About An API
Using an API allows you to send and receive requests in real-time. An API acts as an intermediary between you and the service provider. In simple terms, an API acts as a middleman between any two machines that need to communicate in order to complete a task.
If you are unsure how to obtain an API, Metals-API is the best solution for your company because it is the most comprehensive method of gathering LME Copper spot prices in real-time. You will save money and time by using this tool.
Follow these steps to get LME Copper spot prices:
- Visit www.metals-API.com to obtain your API key.
- Look for the LME Copper (LME-XCU) symbol and currency sign you want to use in the website’s list.
- Add metal and money to the list using these symbols, then make the API call.
- As a programming language, you have the choice of JSON, Python, or PHP.
As a result, the final outcome will be as follows:
{
"success": true,
"timestamp": 1519296206,
"base": "LME-XCU",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
Why Metals-API?
This tool is really useful for investors, traders, and anyone interested in purchasing, selling, or trading metals because it allows them to quickly and easily find current global market prices for any metal. Furthermore, Metals-API collects data from approximately 15 reliable data sources every minute. Banks and financial institutions provide prices. That means the data is extremely precise.
With this API, you will receive all the data in real-time and you can integrate it into an application or software because it is available in different programming languages such as JSON, Python, and PHP.
Metals-API includes a search engine for locating current pricing data streams for a particular component or element combination. Metal prices are derived from a variety of sources, including Bloomberg, Reuters, and others, as well as futures and options.
Also published on Medium.