This post will demonstrate how to collect copper prices from the world’s most important exchange marketplaces, in this case, Nasdaq, using an API.
Copper is used as a heat and electricity conductor, a building material, and a constituent of other metal alloys, including sterling silver in jewelry, cupronickel in nautical equipment and coinage, and constantan in temperature regulation strain gauges and thermocouples.
As a consequence of the COVID-19 epidemic, commercial shutdowns and cancellations occurred all across the globe. As a result, numerous governments have temporarily prohibited the manufacture of electrical gadgets. These factors had a significant impact on the metal market.
In a conclusion, if you wanted to participate in the copper industry or your company needs copper to run, you should be up to date with current copper prices. There is, nevertheless, additional online funding accessible. This is significant because understanding the variables driving copper needs data from reliable sources. Keep an eye on the Nasdaq pricing.
The Nasdaq
Only the New York Stock Exchange has a larger stock and securities exchange than the Nasdaq (NYSE). All of its transactions are carried out online rather than in-person amongst traders. In general, the Nasdaq draws more high-tech and fast-growing firms than other exchanges.
Unlike several other exchanges, the Nasdaq does not have a physical trading floor. All of its stocks are traded electronically using an automated computer network. The Nasdaq attracts some of the world’s most powerful firms.
Among the biggest shares traded on the Nasdaq are Apple, Amazon, Microsoft, Meta (formerly Facebook), Gilead Sciences, Starbucks, Tesla, and Intel. Its stocks are more volatile than those on other exchanges since it attracts high-growth enterprises.
To gather data, you’ll need to employ the proper tools. We highly advise utilizing an API that gives actual copper pricing as well as historical rates based on Nasdaq data for this objective. Choose one that includes fluctuation statistics so that you may consider all of the elements while deciding whether to participate.
Finding an API is straightforward, but finding one that provides copper prices in Nasdaq values is more challenging. Metals-API, one of the world’s major precious metals stocks, acquired the information. You may also use the API to integrate it into your website or app, and the widgets on the page display historical and contemporary prices.
To receive it, follow these steps:
- To obtain an API key, visit www.metals-api.com and fill out the form.
- Look up the symbols you’ll be using in the glossary. Copper is a viable alternative (XCU).
- Before submitting the API call, use these indications to add metal and currency to the list.
- Finish by clicking the “run” button.
Why Metals-API?
It’s an API that records metal prices (including silver) with 2-decimal point precision and up to 60-second frequency. Every minute, the Metals-API gets currency rate data from over 15 reliable sources. Information providers for financial firms, such as COMEX/NYMEX rates and the London Metal Exchange, are some of the sources.
Furthermore, its system instantaneously translates precious metal values into 170 different currencies all around the globe (you could see the prices in your local currency). Nonetheless, considering the increasing prevalence of other currencies, Metals-API supports digital currencies as well.