Do you want to make more efficient your recycled metals investments? This is something you should take your time to read!
Steel scrap is steel products that have been separated for melting by composition and size. There are three possibilities: Internal scrap, also known as reversion trash or domestic rubbish, is a type of scrap that is produced within a company. It refers to the trash metal created in the steel mill during the steelmaking, casting, and finishing processes.
Prompt scrap is the waste generated by the steel plant’s clients, the manufacturing sectors, during the product manufacturing process. Ships and refrigerators, as well as building beams and vehicles, are among the abandoned industrial and consumer equipment that is collected for obsolete rubbish.
The globe is becoming more industrialized and obsolete trash resources are growing due to an increase in the number of abandoned consumer durables and worn-out industrial equipment. It produces more than 40% of all steel produced worldwide. Steel scrap is used in the production of over 500 million tons of steel annually.
Steel rubbish is the industry of the future. Their prices are set by the London Metal Exchange (LME). Every day at 16:30 H (London time), it refreshes the pricing. Steel trash is a relatively young sector that is also quite active. As a result, you should keep up with market prices to make the greatest investing judgments. You will be able to measure the prices hour to hour.
You may use an API (Application Programming Interface) to compare Steel Scrap Turkey numbers over time if you’re seeking a tool to do so. It’s a communication interface that links two devices and allows them to share data. Metals-API, for example, is an API that aggregates all metals market values in all currencies from the world’s most major financial institutions and banks, in this case, the London Metal Exchange (LME).
Why Metals-API?
With a 2 decimal point precision and a 60-second frequency, it can give live precious metals data to an API. Exchange rates for precious metals, currency conversion, and live and historical data are just a few of the options.
In this case, Metals-API is an excellent option. In just a few easy clicks, you’ll be able to access the most user-friendly site for tracking live metals prices:
- Your API key may be generated at www.metals-API.com.
- Look for LME Steel Scrap Turkey (STEEL-SC) in your preferred currency.
- Use these symbols to add metal and money to the list before performing the API call. You may also choose a programming language and a budget range.
- Finally, you press the “run” button to finish the job. The API will appear on your screen as follows:
{
"success": true,
"timestamp": 1519296206,
"base": "STEEL-SC",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}