Do you wish to obtain lead rates in USD? Then use an API!
When we talk about lead, we refer to a soft metal with a low melting point that is easy to manufacture and does not corrode quickly, making it incredibly valuable. It’s also abundant and easy to extract. Nonetheless, it possesses a number of non-metallic properties.
In terms of global production, China accounted for 46.7 percent of global lead mining output in 2019, while the United States accounted for 6%. Australia was a large producer as well, accounting for 9.6 percent of global lead output. As a result, global lead output was expected to exceed almost 5 million metric tons that year.
While reading this, you probably realized how important the lead industry is worldwide. You can obtain a lot of different benefits and new incomes if you invest in it, so you should definitely consider it. To do that, you’ll need to stay updated on different types of rates almost every minute, which can be a hard task if you don’t have the right technology to do so.
This is why we highly recommend using an API to obtain updated rates about metals such as lead, which is an interface that takes data from a location and displays it to you. This is really useful and can be used for many different things in any website. In this case, it can obtain leade rates in USD from an official source and then make them available to you and your clients.
How To Obtain An API
There are several softwares available online that use an API to obtain lead values in USD. However, not all of them function the same way, so you need to be cautious about which one you select to avoid losing money and time.
To further explain everything, we’ll utilize what we believe to be the most comprehensive and effective API available online: Metals-API. This is a free web API that offers metal rates in many currencies.
To obtain the information, you must:
- Register for your own API key at www.metals-API.com.
- Look for the lead and the United States dollar symbol (LEAD and USD).
- Using these symbols, add metal and money to the list before making the API call. You may also choose a programming language and many types of pricing.
- You then press the “run” button and there you have it! The API will present to you on your screen.
The result will look something like this.
{
"success": true,
"timestamp": 1519296206,
"base": "LEAD",
"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,
[...]
}
}
Something To Have In Mind
All metals rates obtained using USD as the base currency must be divided by 1. The values are returned dependent on the base currency. For example, for 1 USD, the return is 0.000634 for gold (XAU). To calculate the gold price per troy ounce in USD, follow these steps: 1577.28 USD = 1/0.000634.
The Metals-API API can give exact exchange rate data for precious metals as well as 170 different foreign currencies, including Bitcoin and other major cryptocurrencies. Metals-API API can provide real-time precious metals data with an accuracy of 2 decimal points and a frequency of up to 60 seconds through API.
Metals-API only gives data on midpoint exchange rates. The average median rate of Bid and Ask at a particular time is used to compute midpoint rates.
Also published on Medium.