Do you wish to obtain LME tin rates with a JSON API? Here, we explain how.
Tin is a silvery metal that may be sliced with a knife. The carbothermic reduction of oxide ore with carbon or coke produces it. Both a reverberatory furnace and an electric furnace can be used. Tin is widely utilized in the plating of steel food cans, bearing metals, and solder.
Tin is around 3 to 5 times the price of base metals like zinc, lead, and copper per pound, although it is far less expensive than precious metals like silver, gold, and platinum. In 2019, the global output of tin was 310,000 tonnes, with China producing the highest, at 85,000 tonnes. It is followed by Indonesia (80,000) and Myanmar (54,000).
Tin has always been a reliable performer in a variety of markets, especially the LME. The LME provides cash trading by providing contracts with daily expiry dates of up to three months from the deal date, weekly contracts of up to six months, and monthly contracts of up to 123 months. To settle contracts, it provides hedging, global reference pricing, and the option of physical delivery.
Pricing for such metals may be difficult to get. It is, nevertheless, not impossible. We strongly recommend that you utilize an API for this. This allows you to receive information from a variety of sources, including the London Metal Market (LME). It’s utilized on a lot of websites for a variety of reasons, and it might be useful in any instance. In this case, a few mouse clicks might result in LME Tin rates in seconds.
How To Use An API
APIs are utilized in a broad variety of applications throughout the world, including by some of the most well-known websites and social media platforms. It has a wide range of uses, making it particularly useful when rapid and precise information is required.
To utilize one, you must first find software that can do so. There are a myriad of them on the internet, and each one may provide you with unique facts. As a result, you must use prudence in your decision-making to avoid wasting your time with an unpleasant meeting.
The majority of APIs present their results in Javascript Object Notation (JSON), one of the most popular programming languages. This is a straightforward data transfer format that everyone can read and write. JSON is a language-independent text format that uses C-family programming standards. JSON is a useful data-interchange language because of these characteristics.
Metals-API, one of the most well-known and comprehensive APIs for precious metals pricing, is suggested for obtaining access to LME Tin prices via JSON API. You can watch precious metal spot prices, metal charts, and real-time metal prices and quotations from across the world using interactive features.
To make use of it, you must perform the following:
- At www.metals-API.com, you may generate your own API key.
- Look for the LME Tin symbol (LME-TIN) and the currency you desire.
- Before concluding the API call, use these symbols to add metal and money to the list. You may also choose a programming language and a price range.
- Finally, you hit the “run” button, and you’re done! The API will be displayed on your screen.
This is how the JSON response will look like:
{
"success": true,
"timestamp": 1519296206,
"base": "LME-TIN",
"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,
[...]
}
}
How Exact Is This?
It is completely accurate and dependable. Each minute, Metals-API receives data from around 15 credible data sources. Banks and financial data providers are among them. As a result, you will receive extremely accurate pricing. Metals-API is in charge of calculating the market value of precious metals including gold, silver, aluminum, platinum, and palladium. The website’s information may be used in spreadsheets, other websites, and mobile apps, among other places.
Also published on Medium.