If you’re looking to get daily cobalt prices from the London Metal Exchange, do it using an API!
The business with metals, the market of metals, and their derivatives is one of the most important sectors of modern economy, both for its volume and for the influence on other industries. The influence of metallurgy on the economies of countries is such that a crisis in this sector has a marked impact on all other industries.
Metals & the Metallurgic Sector
The market of metals is the largest in the world. Having been long used, it has a great penetration into the public’s daily life. In today’s society, metal products can be seen everywhere and are used in all aspects of human life. Many excellent metals manufacturers either produce pure metals or had developed their own processing technology to manufacture various metal products.
About Cobalt & Cobalt Prices
–What Is Cobalt?
Cobalt is a chemical element that belongs to the transition metals and is characterized by its silver-gray color and its hardness and brittleness. It also has similar magnetic properties to iron, i.e. it is a ferromagnetic element. It is a rather unique element in nature, as it occurs only in an amount of 0.001% in the crust. Usually it does not occur in pure form, but always in combination with other chemical elements in the form of minerals.
What Is London Metals Exchange?
The London Metal Exchange (LME) is the world’s largest industrial metals exchange and handles the majority of non-ferrous metals futures trading through its platforms. The LME brings together players from the physical and financial industries to create a stable and regulated market where there is always a buyer and a seller, always a price, and always the ability to transfer or take risk – 24 hours a day.
The metals industry and the expansion of cobalt are increasing year after year. Therefore, it is important to know the current cobalt prices if you want to work in this industry. If you want to find out about LME prices, we recommend using an API. Choose one with historical data so you can weigh all the factors when deciding whether or not to invest.
Metals-API
Today, thousands of developers use the Metals-API to quickly and easily obtain current world market values for any metal (including cobalt, of course). This system is currently the most important source of real-time precious metal prices due to its reliable data sources, as this program collects data from around 16 sources. This information is 100% truthful, as it comes from banks and financial organizations like the famous LME (very famous in its field).
Metals-API also offers you the possibility to see prices in more than 170 currencies from all over the world. This way, you wont have to worry about converting money since the same API will do it for them
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Also published on Medium.