Do you want to get tungsten spot rates but don’t know how? Use an API!
Tungsten, often known as wolfram, is a chemical element with the symbol W and the atomic number 74. It is a rare metal that only exists in nature in conjunction with other metals. It was discovered as a new element in 1781 and separated as a metal for the first time in 1783. Scheelite and wolframite, the latter of which gives the element its other name, are two of its main ores.
Because it has the greatest melting point of any known element other than carbon, the free element is renowned for its hardness (which sublimes at normal pressure). When uncombined under normal circumstances, polycrystalline tungsten is an innately brittle and hard substance, making it challenging to deal with. Pure single-crystalline tungsten, on the other hand, is more ductile and can be cut with a hard-steel hacksaw.
In 2020, China produced the most tungsten, at around 69,000 metric tons, compared to approximately 4,300 metric tons produced in Vietnam in the same year. In 2020, Russia ranked second with 2,200 metric tons, followed by Bolivia with 1,400.
This data release describes around 100 locations in the United States, which include mineral regions and deposits with tungsten resources or past production totalling more than 215 metric tons (approximately the top 10 percent of U.S. tungsten deposits). The information will assist the geoscience and mineral exploration communities, as well as federal and state governments and the commercial sector, in moving the United States closer to vital resource independence.
Given this, it’s easy to see why acquiring tungsten spot rates is critical, given that we’re dealing with one of the most significant components of the precious metals sector. As a result, if you want to invest in this commodity, you must be aware of its current market price. This is possible with the use of an Application Programming Interface (API).
What Exactly Is This?
This is a program that allows two programs to communicate with one another. Every time you use an app like Facebook, send an instant message, or check the weather on your phone, an API is used.
Before you utilize one, seek for a good piece of software that provides it. Many of them are accessible over the internet, although not all of them provide the same information. As a result, you must be cautious in your decision-making to avoid wasting your time with a bad encounter.
As a result, we highly advise you to utilize Metals-API, which is quickly becoming one of the most popular and comprehensive APIs for precious metal values. This tool may provide you with a huge variety of metals and currencies to utilize on your website.
You must perform the following to utilize it:
- You may generate your own API key at www.metals-API.com.
- Look for the Tungsten symbol (TUNGSTEN) and the one of the currency of your choice.
- Use these symbols to add metal and money to the list before ending the API call. You may also specify the programming language and the pricing range.
- Finally, you press the “run” button and you’re finished! The API will appear on your screen.
More Information On This Tool
Metals-API began as a basic, lightweight Open-Source API allowing banks to get current and historical precious metals prices. This API can provide real-time precious metals data with a 2 decimal point precision and a frequency of up to 60 seconds through API. These features include giving precious metals exchange rates, converting single currencies, and providing Time-Series data, volatility statistics, and the day’s lowest and highest price. The Metals-API API can provide precise precious metal exchange rate data in more than 170 worldwide currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.