Do you live in Pakistan? Would you like to buy nickel but you don’t know where to find out its price? Fortunately, we have good news for you!
Nickel is a chemical element whose atomic number is 28, its symbol is Ni and is located in group 10 of the periodic table of elements. It is a white transition metal with a slight yellow tone, a conductor of electricity and heat, very ductile and malleable; so it can be easily rolled, polished and forged. Like metals like iron, iridium, and osmium, nickel is very dense. It is found in different minerals, in meteorites (alloyed with iron) and, in principle, there is nickel inside the Earth, mainly in its core.
Approximately 65% of the nickel consumed is used in the manufacture of austenitic stainless steel and another 12% in nickel super alloys. The remaining 23% is distributed among other alloys, rechargeable batteries, catalysis, coinage, metallic coatings and foundry. For example, mu-metal is used to shield magnetic fields due to its high magnetic permeability. Alnico alloy is used in magnets. Nickel-copper alloys (Monel) are highly resistant to corrosion and are used in marine engines and the chemical industry.
The main producers of nickel ore are Indonesia (24% of world production), the Philippines (15%), New Caledonia (9%), Russia (9%), Canada (7%) and Australia (7%). However, this year its price increased significantly (more than 60% in 2022 alone) and since it is a very expensive metal (33,000 dollars per ton), for many Pakistani businessmen this is very bad news. The only possible alternative is to be alert to prices and wait for the best moment to buy. A very useful tool for this is Metals-API, the best precious metals API.
Why Metals-API?
Metals-API is a lightweight open source API, created to update precious metal prices in real time, quickly and efficiently. In fact, depending on the plan you choose, you will be able to see the rates with a precision of 2 decimal places and an update frequency of only 60 seconds!
This information is obtained from the most reliable sources in the world, such as the prestigious London Metal Exchange or the European Central Bank. All this, using a wide range of programming languages such as JSON or PHP.
On the other hand, it is understandable that a Pakistani would want to see prices in Pakistani Rupees and not in Chinese Yuan, Euro or the US Dollar. Fortunately, the Metals-API system is fully compatible with Pakistani Rupees.
To start using this service, we recommend reading all the extensive and complete documentation on its website. It also includes a quick start tool, so you can get started faster and easier, if you don’t have time to read long texts. Any question? Please contact the following email: [email protected].
Also published on Medium.