Do you wish to get copper prices from COMEX? try with an API! Here we show how to obtain it.
The COVID-19 outbreak caused lockdowns and shutdowns of industrial activity all over the world. As a result, numerous countries temporarily ceased electronic manufacturing. In addition, metal mining, notably copper mining, slowed in 2021. These factors weighed heavily on the copper market.
Rising demand from the construction, electronics, and telecommunications industries is propelling the market forward. Asia-Pacific is predicted to develop the quickest throughout the projection period, owing mostly to India’s and ASEAN countries’ expanding electrical and electronics sectors.
Because the preponderance of these metals’ investors is based in New York, being up to date on COMEX prices is critical. With all of this in mind, if you’re considering investing in copper or associated firms, you need to stay current on copper pricing. And, if you have to be on the investor’s scene, you must keep an eye on the heart of the firm. For a reason, it’s vital to monitor COMEX prices.
What Is COMEX?
The COMEX (The Commodity Exchange Inc.) buys and sells billions of dollars worth of oil, energy carriers, metals, and other commodities for future delivery on the trading floor and through overnight electronic trading computer systems. Market rates are the foundation for the prices that consumers pay for a wide range of commodities all across the world.
To acquire data, you will need the proper tools. For this purpose, we strongly recommend utilizing an API that provides current copper rates as well as historical rates that contain Comex data. You must also choose one that provides fluctuation data so that you can weigh all of the factors when selecting when the best moment to buy is.
About APIs
An application programming interface is a system that allows different devices or applications to connect (API). You’ll need to keep an eye out and use technology to help you. Although a few services may be useful, keep in mind that not all of them are functioning or give the same data.
It is straightforward to discover an API, but it is more difficult to find one that gives copper price in NYMEX values. Metals-API is one of the biggest global precious metals inventories, and it gathers this information. You can also use the API to integrate it into your website or app and gather current and historical rates using the plugins on the page.
To obtain it, follow these steps:
- Fill in the form at www.metals-api.com to obtain an API key.
- In the dictionary, look up the symbols you’ll be employing. You can use either copper (XCU) or your COMEX values.
- Before completing the API call, use these indications to add metal and currency to the list.
- The transaction is completed by clicking the “run” button.
Why Metals-API?
To begin, it is an API developed to track metal prices (including silver) with a 2 decimal point precision and a frequency as high as every 60 seconds. The Metals-API gets exchange rate data from over 15 trustworthy data sources every minute. Among the sources are financial institutions’ content providers, such as COMEX/NYMEX rates and the London Metal Exchange.
Moreover, its system instantly converts the values of precious metals to 170 various currencies from across the world (you could see the prices in your local currency). Nevertheless, given the prominence of many currencies in recent years, Metals-API also supports digital currencies.