Are you looking for an API that allows you to track the price of LME nickel over time? In this post we will explain you how to get it.
It’s a sparkling silvery-white metal with a gold sheen to it. It is a transition metal that may be both hard and ductile. This metal is corrosion-resistant because it oxidizes slowly in the presence of air at ambient temperature. Around 27% of total nickel production is utilized in engineering, 10% in building, 14% in tubular products, 20% in metal goods, 14% in transportation, 11% in electronic goods, and 5% in other applications.
The price of this metal varies a lot, sometimes within a single day. The value is increasing, although there are some ups and downs along the way. As a result, if you’re investing in nickel because you work in one of these industries, you’ll need to keep up with current pricing and fluctuations daily. To choose the optimal time to invest, you must pay close attention. This work will be made easier with the aid of an API.
But, What Is An API?
It’s a type of tech that enables two programs on different machines to interact with one another. A server sends data from a device that is linked to the internet. Data is gathered, processed, and the needed security measures are executed before being transmitted back to your phone. The data is subsequently analyzed and presented by the computer.
If you need current prices and variations of them, Metals-API is a suitable option. It works with a wide variety of metals and currencies. Every minute, it collects and updates all critical data from the world’s leading financial institutions. It gives information on price variations in metals.
Follow these steps to get started:
- Go to www.metals-API.com to obtain an API key.
- On the internet, you may discover LME Nickel symbols (LME-NI) and currency indicators.
- Make the API request once metal and currency have been added to the list of symbols.
- JSON and PHP are the two coding languages available.
This is an example of the API request:
https://metals-api.com/api/fluctuation ? access_key = API_KEY & start_date = 2015-12-01 & end_date = 2015-12-24
And this is an API response:
{
"success":true,
"fluctuation":true,
"start_date":"2018-02-25",
"end_date":"2018-02-26",
"base":"LME-NI",
"rates":{
"USD":{
"start_rate":1.228952,
"end_rate":1.232735,
"change":0.0038,
"change_pct":0.3078
},
"JPY":{
"start_rate":131.587611,
"end_rate":131.651142,
"change":0.0635,
"change_pct":0.0483
},
[...]
}
}
Why Metals-API?
Metals-API is one of the most accurate and trustworthy API tools available. It receives data every minute from around 15 credible sources, including the London Metals Exchange in this case. Banks and financial data corporations, for example, are examples of these enterprises. As a result, you’ll obtain a precise estimate.
It accepts over 170 different currencies, commodities, and currencies. The JSON API (JavaScript Object Notation) removes the requirement for each piece of software to write its specialized code to communicate with servers that utilize a certain format.