Do you want to know the current LME Aluminium historical rates? We have the best API for you, so you should read this article.
Aluminium is a silvery-white metal that is lightweight. It’s malleable and pliable. Aluminum is used in a variety of products, including cans, foils, culinary utensils, window frames, beer kegs, and airplane parts.
The global demand for aluminum (primary and secondary/recycled) is expected to rise 5.8 percent per year to 82.5 million metric tons by 2017. China will account for more than half of the additional volume demand in 2017. As a result, you should stay up to date on the market and don’t miss out on opportunities to profit by determining which option is best for you.
The best way to know whether or not to invest in this industry is to analyze price data over different time periods and see how it has increased. To obtain this type of information, we recommend using an Application Programming Interface (API).
What Is An API?
You can obtain historical rates using an API because this technology collects accurate data from a variety of sources, including the London Metal Exchange (LME), the world’s largest exchange for industrial metals. Using this technology, you will be able to determine the best time to invest in this industry.
An API acts as a go-between, transmitting your request to the service provider and returning the result. APIs have become an essential component of the Internet. Even if you’re making a personal app, you’ll almost certainly need one to power it or some of its features.
However, historical rates are not supported by all software, and obtaining this technology can be difficult. As a result, Metals-API is recommended as the most comprehensive method of obtaining LME Aluminium historical rates.
To obtain historical rates, you should follow these steps:
- Obtain your API key from www.metals-API.com.
- Search the website for the LME Aluminium symbol and currency sign you want to use.
- Make the API call after adding metal and money to the list with these symbols. JSON or PHP can be used as a programming language.
- The historical rates of most currencies can be traced all the way back to 2019. You can query the Metals-API API for historical rates by appending a date (format YYYY-MM-DD) to the basic URL.
The following is how the request should be written:
https://metals-api.com/api/2013-12-24 ? access_key = API_KEY & base = LME-ALU & symbols = USD,CAD,EUR
As a result, the end result is as follows:
{
"success": true,
"historical": true,
"date": "2013-12-24",
"timestamp": 1387929599,
"base": "LME-ALU",
"rates": {
"USD": 1.636492,
"EUR": 1.196476,
"CAD": 1.739516
}
}
Why Metals-API?
This tool is really useful for investors, traders, and anyone else interested in buying, selling, or trading metals because Metals-API enables you to quickly and easily locate current global market prices for any metal of your choice (including aluminium and silver).
Metals-API includes a search engine that is specifically designed for locating up-to-date price data feeds on specific elements or element combinations. The API, which is available in JSON and PHP formats, can be used for a wide variety of programming applications.