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Easy Way To Get LME Nickel Rates With An API

Did you know you could invest in nickel?  Do you have any idea that entities exist only to know the prices of precious metals?  Read this article to learn more about the subject!

Nickel is a silvery-white metal that occurs naturally in the crust of the planet. Nickel is a transition metal, which means it lies in the center of the periodic table. It is the world’s 24th most plentiful element.

Nickel is unique in that it is today even more expensive than copper, yet it is still much cheaper and more available than silver. As a result, many jewelers add nickel to other precious metals to make them more durable and lower the cost. As a cheaper alternative to silver, they employ a base metal alloy called “nickel silver.”

Since nickel alloys are utilized for functions such as high performance alloys, corrosion resistant alloys, electronic alloys, and heat resistant alloys by end-use industries such as aerospace & military, chemical, electrical & electronics, oil & gas, energy & power, and automotive, among others.

For this reason, the LME Nickel exist. The LME it’s a series of spot, forward, and future contracts for the delivery of primary nickel that are listed on the London Metal Exchange. But even for economists on the LME, keeping up with the Nickel price can be exhausting. That’s why they use Metals-API, an API that sends them the prices of what they want directly.

What Is Metal-API?

Metals-API is a website that provides information on financial exchanges and precious metal prices. It provides an API that may be used to connect to other systems and collect financial data. It analyses the changes of 170 currencies and has a one-minute search range.

How Is It Used?

Metals-API is unusual because is not difficult to use. A set of instructions for using it may be found on the same page.

  • You must first register on the website and establish an account.
  • Then look for your preferred money and precious metal.
  • Create an API request using the settings from the dashboard.
  • Wait for the site to respond with an API response.

How Safe Is It?

Yes, Metals-API uses 256-bit SSL encryption, which is a standardized method that encrypts data transmission between a web browser and a website (or between two web servers), therefore securing the connection. Because this connection is extremely similar to the one used in banking identity sites, Metals-security API’s is unquestionable.

Published inTechnology

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