Are you fully determined to invest in the aluminum industry? Well, for that, you must first find out the prices of this metal. There are some ways to obtain them, but we will recommend the best system. It is the best precious metals API.
Aluminum is the most abundant metal on Earth, accounting for more than 8% of the total mass of the Earth’s crust. It is the third most abundant chemical element on our planet after oxygen and silicon. Aluminum is not found in nature in its pure form but as part of numerous silicates and minerals. Formally, aluminum was obtained only in 1824, and more than half a century passed before its industrial production began. Its most important characteristics are its lightness (aluminum is three times lighter than iron) and its ductility (the ability of a material to accept large deformations without breaking).
But its most famous feature is its ability to be infinitely recycled. This metal and its alloys can be repeatedly cast without loss of mechanical characteristics. However, the production of aluminum requires a large amount of electricity. The production of a ton of metal requires approximately 15 MW*h of energy, the same as a 100-apartment building consumes throughout the month. Therefore, it is more reasonable to build aluminum plants near powerful and renewable energy sources.
The current price of aluminum is 2,916 US dollars per ton, a low price if we consider that this year it was at 3,850 dollars per ton. This is because Russia produces about 6% of the world’s aluminum and the war with Ukraine brought many problems to the world economy. We know this thanks to Metals-API, the best digital tool to get metal prices. With it, you can be alert to any slight change in its price, thus avoiding losing money.
Why Metals-API?
This API (Application Programming Interfaces) is called Metals-API and its objective is to facilitate the relationship between two applications for the exchange of messages or data. Each API is designed in a specific programming language, in this case, the JSON or PHP format is used. Thanks to this, any investor, trader or another person interested in seeing the prices of metals such as gold, silver, lithium or aluminum, will be able to do so easily and quickly. In this way, we will be alert to the latest prices and avoid being surprised by market volatility. Aluminum rates per ton are displayed in the currency of your choice, no matter what it is.
How much does it cost?
Fortunately, Metals-API is free and you can use it without paying anything. But it is also true that there are paid plans, which will offer you greater benefits, such as more “API calls” and 60-second updates. We recommend you enter the website and analyze which is the best option for you.
It is safe?
To be able to use this system, you must enter your data and, if you choose the paid version, you will also use your card, so it is necessary to know that your data is not at risk. Fortunately, the connection to the Metals-API API is encrypted using bank-grade 256-bit SSL encryption. In other words, your personal data will be very well protected.
Also published on Medium.