Would you like to get the price of metals from the New York Mercantile Exchange (NYMEX)? Well, in the following article, you will find the answer to your question. You will know an incredible tool that will surely help you in your work. It is the best New York rates API.
Metal refers to chemical elements characterized by being good conductors of heat and electricity, having high density, and being solid at normal temperatures (except mercury). If one looks at the periodic table, one will see that metals comprise the majority of the periodic table of elements. This concept refers both to pure elements such as aluminum, gold, silver, and iron, but also to alloys with metallic characteristics, such as steel and bronze. Thanks to their characteristics and their different varieties, metals have helped us build almost all the elements that accompany us in our daily lives.
However, there are many types of metals, which have different uses. For example, precious metals such as gold, silver, or platinum are often famous for their high price, beauty, and rarity, which is why they are used in investments, and jewelry, among other things. Instead, there are other much cheaper metals but with 100% industrial purposes, such as copper for electrical cables, aluminum for cans, iron to create steel, and lithium for batteries, among other metals.
To obtain metal rates, there are many commodity exchanges in the world, such as the London Metal Exchange (LME), Bombay Stock Exchange (BSE), Chicago Board of Trade (CBOT), and of course, the New York Mercantile Exchange (NYMEX). The latter is one of the most famous and prestigious in the world and belongs to the CME Group of Chicago since 2008. To get the daily prices of this commodity exchange, we recommend using the Metals-API service. It is one of the best precious metals API.
Why Metals-API?
Metals-API started as a simple and lightweight open source API for current and historical precious metal rates published by banks or other financial institutions. Some of these sources are the London Metal Exchange (LME) and the New York Mercantile Exchange (NYMEX). The prices of metals such as copper, gold, silver, platinum, iron, and lithium, are obtained in real time with a precision of 2 decimal places and a frequency of 60 seconds. In other words, it is an incredibly fast platform, in times where every second counts given the incredible volatility of the financial market. This explains why it is very important to be informed about the latest prices.
Capabilities include delivering exchange rates for Precious Metals, converting single currencies, returning Time-Series data, fluctuation data and lowest and highest price of any day.
How much does this service cost?
It is free, that is, you can see the prices of metals without paying anything. But obviously, this plan has some limitations, something that does not happen with paid plans. Each plan has its pros and cons, so choose carefully. We recommend that you go to its website and click on the “pricing” section. There you will find the differences between each option. If that’s not enough, Metals-API also offers custom enterprise pricing for unlimited requests. Any questions? The customer support team is always online from 9 am to 6 pm (GMT+1)
Also published on Medium.