Are you looking for a way to obtain LME lead rates? Then use an API!
But first, let’s discuss lead and its significance. This is a soft metal with a low melting point that is easy to produce and does not corrode easily, making it extremely useful. It’s also plentiful and simple to extract. Despite the fact that lead, like many other metals, is dense, ductile, and malleable, it also has a variety of non-metallic qualities.
In 2019, China accounted for 46.7 percent of global lead mining output, while the United States accounted for 6%. That year, global lead output was expected to reach 4.5 million metric tons. Australia was a large producer as well, accounting for 9.6 percent of total global lead output.
Here are some of lead characteristics:
- It is typically used in paints and pipes as a corrosion-resistant metal.
- It is utilized in both automotive and lead-acid batteries.
- Soldering of electrical equipment components
The London Metal Exchange, on the other hand, offers cash trading through 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. It offers hedging, worldwide reference pricing, and the option of physical delivery to settle contracts.
It may be challenging to keep up with this sort of tempo in USD. It is not, however, impossible. We strongly advise utilizing an API for this. This may bring you data from a variety of sources, including the London Metal Market.
How To Make Use of This
Before you use one, look for a decent piece of software that does. Many of them are available on the internet, albeit not all of them provide the same information. As a result, you must exercise caution while making decisions in order to prevent wasting your time with a negative experience.
As a result, we strongly recommend that you use Metals-API, which is gradually becoming one of the most popular and comprehensive APIs for precious metal values. This tool may give you a wide range of metals and currencies to use on your website.
To use it, you must do the following:
- At www.metals-API.com, you may generate your own API key.
- Look for the LME Lead (LME-LEAD) and US Dollar (USD) symbols.
- Before concluding the API call, use these symbols to add metal and money to the list. You may also choose a programming language and a price range.
- Finally, you hit the “run” button, and you’re done! The API will show on your screen, and the rates will be presented in troy ounces.
More About This Software
Metals-API began as a simple, lightweight Open-Source API for banks to obtain current and historical precious metals values. This API can offer real-time precious metals data with an accuracy of 2 decimal points and a frequency of up to 60 seconds through API. These features include providing precious metals exchange rates, converting single currencies, and providing Time-Series data, volatility statistics, and the lowest and highest prices of the day. The Metals-API API delivers accurate precious metal exchange rate data in over 170 currencies worldwide, including Bitcoin and other major cryptocurrencies.
Also published on Medium.