Use An API For LME Tin Rates In USD
Are you trying to get LME tin rates in USD? Then an API can be the perfect solution.
Tin is a silvery metal that is slicable with a knife. It is created by the carbothermic reduction of oxide ore with carbon or coke. A reverberatory furnace as well as an electric furnace can be employed. Tin is commonly used to coat steel food cans, bearing metals, and solder.
Tin is around three to five times the price of base metals such as zinc, lead, and copper per pound, although it is significantly less expensive than precious metals such as silver, gold, and platinum. Tin production in the world was 310,000 tonnes in 2019, with China producing the most, at 85,000 tonnes. Indonesia (80,000) and Myanmar (70,000) come next (54,000).
Tin has always been a consistent performer in a wide range of marketplaces, particularly the LME. The London Metal Exchange (LME) is a futures and forwards exchange that operates the world’s largest market for standardised forward contracts, futures contracts, and options on base metals. Contracts for ferrous metals and precious metals are also available on the market.
The LME enables for cash trading since it provides contracts with daily expiry dates of up to three months from the deal date, weekly contracts of up to six months, and monthly contracts of up to 123 months. To settle contracts, it provides hedging, global reference pricing, and the option of physical delivery.
If you work in one of these fields, pay attention to how values change through time and how they connect to current pricing. This information is essential for selecting the optimal time to invest. As a result, a programming interface is required (API).
What Is This?
APIs, or application programming interfaces, make software development and innovation easier by allowing programs to communicate data and functions in a simple and safe manner. An API is a collection of specified rules that describe how computers or apps interact with one another. APIs serves as an intermediate layer between an application and a web server, processing data flow between systems.
Many of them are accessible over the internet, albeit not all of them provide the same information. As a result, you must proceed with caution while making judgments in order to avoid wasting your time with an unfavorable encounter.
As a result, we highly advise you to utilize Metals-API, which is quickly becoming one of the most popular and comprehensive APIs for precious metal values. This tool may provide you a wide range of metals and currencies to utilize on your website.
To make use of it, you must perform the following:
- You may generate your own API key at www.metals-API.com.
- Look for the LME Tin (LME-TIN) symbol and the currency you want to examine (USD).
- Use these symbols to add metal and money to the list before ending the API call. You may also specify the programming language and the pricing range.
- Finally, you press the “run” button and you’re finished!
About This Tool
Metals-API started off as a basic, lightweight Open-Source API that allowed banks to get current and historical precious metals prices. Metals-API API can provide real-time precious metals data with a 2 decimal point precision and a frequency of up to 60 seconds through API. These capabilities include providing precious metals exchange rates, converting single currencies, and displaying Time-Series data, volatility statistics, and the day’s lowest and highest prices. The Metals-API API provides precise precious metal exchange rate data in over 170 currencies throughout the world, including Bitcoin and other major cryptocurrencies.
Originally published at TheStartupFounder.com.
