Do you need an API that gives you LME Steel HRC China rates in American dollars? then, you should read this article!
HRC applications include pipelines, cars, railways, and shipyards. Hot-rolled coil (HRC) is the most prevalent finished steel form in the global steel industry and the foundation for many steel-based industrial items. Because of its high liquidity and importance as a raw material for manufacturers, HRC is a critical metal that requires precise and speedy spot pricing and analysis.
The pricing of materials used in the hot-rolled coil consuming industries is influenced by end-user demand, manufacturing costs, rivalry with local and foreign suppliers, and national and global financial conditions. Pricing limits differ by nation, but in general, offers are made in local currencies, with estimated values in EUR or US dollars if the country is an importer. As a result, it’s critical to monitor pricing frequently.
A hot-rolled coil’s price is determined by its width, thickness, weight, steel quality, and intended use. When conducting business, it is critical to maintaining information current. These factors have an impact on the price. China is one of HRC’s most important markets. It is, however, difficult to locate their pricing. As a result, an API is a better tool for getting the most out of your money.
But, What is an API?
An application programming interface (API) is a software interface that allows two apps to communicate with one another. When you use a mobile phone app, it connects to the Internet and sends data to a server. When the server receives this data, it analyzes it, performs the appropriate security safeguards, and sends it back to your phone. After that, the computer analyzes the information and delivers it to you in an easy-to-understand format.
If you want to use an API that gives USD value information, Metals-API is a suitable alternative. In just a few simple clicks, you’ll have access to the most user-friendly service for following live metals prices.
Why Metals-API?
It is refreshed every 60 seconds with a 0.2 decimal difference. It provides a vast selection of metals from which to choose. It is compatible with a wide range of devices, including smartphones and computers.
It compiles metal price data from some of the world’s most prestigious financial institutions and banks (in this case, London Metals Exchange and Argus). Commercial sources, especially for major currencies and metals, are given more weight because they better depict market exchange values.
Join Metals-API as a member:
- To get an API key, go to www.metals-API.com.
- To work with, select metal and money.
- Before connecting to the API with these symbols, add metal and money to your list. You can also choose from a variety of programming languages and price points. (JSON; PHP)
- To complete the objective, you must press the “run” button.
The API should look like this on your screen:
{
"success": true,
"timestamp": 1519296206,
"base": "STEEL-HR",
"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,
[...]
}
}