Do you have a British company that needs to know Cobalt prices? If your answer is “YES”, we have good news for you!
Cobalt is a metallic element that is located in group 9 of the periodic table. Its atomic number is equal to 27, its atomic mass is 58.9332 units and it is represented by the chemical symbol Co. It is one of the least abundant elements in the earth’s crust, contributing just 0.0029%. This metallic element stands out for its high resistance to wear and hardness; in fact, it is very similar to iron and nickel. Also, it is toxic.
Most of the cobalt production is directed to the metallurgical sector, for the manufacture of various super alloys, capable of superlative performance and high resistance to environmental influences and extreme conditions. These alloys are used to make turbines, high-speed and stainless steels, cemented carbides, diamond instruments, and to make powerful magnets and magnetic tape.
The main producers of cobalt in the world are the Democratic Republic of the Congo, Russia, Australia, Canada, Cuba and the Philippines, among other countries. As it is a metal that the United Kingdom must import, its businessmen are constantly aware of its price variations, especially considering that it is too expensive a metal. Currently, it costs £62,000 per tonne.
For this case, we will use the Metals-API.
Why Metals-API?
First of all, the Metals-API service was created to check the prices of all metals in the world, including cobalt obviously. This information is obtained with a precision of 2 decimal places and a frequency of 60 seconds. If you are wondering if this information is reliable, the answer is 100% true. Metals-API collects information from 16 trusted data sources like banks and financial data providers. For example: Barrick Gold, London Metal Exchange, etc.
In addition, thanks to its excellent conversion system, you will be able to see any price in the official currency of the United Kingdom.
How much does this service cost?
It depends on your needs. Currently, Metals-API offers a free service, but it is designed for small businesses, as their service works but with many limitations. If you want to make the most of its capabilities, we recommend purchasing a paid plan, which are annual. In the “pricing” section, you can find the differences between each one.
Is it safe?
The connection to the Metals-API is encrypted using bank-grade 256-bit SSL Encryption.
Also published on Medium.