Are you seeking precious metal data from Shanghai Futures Exchange? Here, we recommend an API to collect it.
The Shanghai Futures Exchange (“SHFE”) operates under the unified control of the China Securities Regulatory Commission (“CSRC”) and organizes futures markets authorized by the CSRC by the CSRC’s values of transparency, and objectivity, justice, and honesty.
The SHFE now provides 20 index futures and 6 product alternatives, covering copper, aluminum, zinc, lead, nickel, tin, gold, silver, steel rebar, steel wire rod, hot-rolled coil, and steel rebar, fuel oil, crude oil, bitumen, natural rubber, wood pulp, TSR 20, stainless steel, LSFO, and bonded copper, as well as copper option, natural rubber option, gold option, aluminum option, zinc option, and crude oil option.
Between SHFE’s main items, copper contracts have ranked among the globe’s three most influential copper futures markets, and the exchange has also established a comprehensive nonferrous metals product range with aluminum, zinc, lead, nickel, and tin futures to meet the needs of physical industries quite well.
The steel price system has been further improved as a result of ferrous metal futures such as steel rebar, steel wire rod, and hot-rolled coil, contributing to the healthy and orderly expansion of China’s steel sector as well as the promotion of China’s steel prices’ worldwide influence. In terms of fuel oil and bitumen futures, they have expedited energy futures product exploration and increased the market power of China’s petroleum products.
Furthermore, SHFE’s bonded delivery and continuous trading have provided the groundwork for the futures market’s opening up and globalization, as well as improved investors’ real-time risk management by fostering the quick interaction between local and abroad prices of relevant items. An API is required to gather data from this trade market.
What Is An API?
API is an abbreviation for Application Programming Interface. What does it mean? It is a piece of software that communicates with and distributes data between two or more devices. It is widely used in online banking and social networking applications.
There are various APIs that provide metal data on the internet; nonetheless, gathering great rate data may be challenging. Regrettably, not all of them send rates from Shanghai. Metals-API is a reliable source of precious metal prices.
About Metals-API
Metals-API offers information on a wide range of metals, including nickel, gold, palladium, and HRC steel. You may also track the values of these metals in over 170 other currencies, such as USD, EUR, and BTC. It gathers information from well-known financial institutions. COMEX/NYMEX rates are also available. Additionally, it is used by businesses of various sizes, like the global mining corporation Barrick Gold.
This API provides real-time precious metals data with a 2 decimal point precision and a frequency of up to 1 minute. Using current and historical prices, you may examine indicators and identify the optimum time to invest. Metals-API may also be utilized to identify fluctuation data for this purpose.