If you need an API that provides you magnesium rates using PHP, you must read this article.
Magnesium is a critical component in the manufacturing of aluminum alloys, and China has a near-monopoly on its production. China produces around 87 percent of the world’s magnesium, with Yulin City in Shaanxi province producing the majority of it. Russia, Israel, and the United States are the other big investors in magnesium manufacturing.
Knowing this, you should be aware that getting to magnesium rates might be critical to the profitability of your firm. In PHP, an API, which is an interface that provides information captured from a certain location, may be used to get this data. This gives you a lot of information in a short amount of time.
What Is PHP
PHP (Hypertext Preprocessor) is a general-purpose programming language that may be used to build dynamic and interactive websites. It was one of the first server-side languages to be incorporated into HTML, making it simple to add functionality to webpages without requiring data from separate files. Its functionality has evolved as a result of periodic upgrades that add new features and open up new possibilities.
Not all the APIs utilize PHP as a data transfer. As a result, we propose using Metals-API, one of the most well-known and comprehensive APIs for precious metals pricing, to assist you in making more informed investment decisions. Metal prices will be provided, both current and historical. Pricing changes can also be investigated using price fluctuation data.
To obtain your API key, follow these steps:
- At www.metals-API.com, you may create an API key.
- Search for the Magnesium symbol on the website’s list (MG).
- Insert these metal and currency symbols into the list before accessing the API. You may also pick between many programming languages and rate kinds, such as historical and spot pricing.
- Finally, hit the “Run” key.
The following data will be shown by the API:
// set API Endpoint and API key
$endpoint = 'latest';
$access_key = 'API_KEY';
// Initialize CURL:
$ch = curl_init('https://metals-api.com/api/'.$endpoint.'?access_key='.$access_key.'');
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);
// Store the data:
$json = curl_exec($ch);
curl_close($ch);
// Decode JSON response:
$exchangeRates = json_decode($json, true);
// Access the exchange rate values, e.g. GBP:
echo $exchangeRates['rates']['GBP'];
Why Metals-API
A big number of developers, small companies, and major corporations visit Metals-API daily. Over 500 companies, including Barrick Gold, Chainlink, and Glencore, use this API. They may use this tool to get current worldwide market pricing for any metal fast and conveniently.
Metals-API is the most dependable source for real-time precious metals rates since it receives data every minute from around 15 respected data sources, such as financial institutions. To construct real-time apps and software from data, a variety of programming languages may be employed, including JSON, Python, and PHP. In addition, there are over 170 metals and currencies.