If you’re looking to stay updated on Lithium prices, try out this free metal prices API
The Market of Metals
The market of metals is important nowadays. It helps manufacturers to produce new products, and consumers to have a chance to choose the best quality goods. The market of metals works due to competition of producers and consumers, who have different goals in mind: producers try to generate higher profits by selling their products for the highest price possible; for consumers it is important to receive their needed goods at affordable prices.
Lithium: A Short Market Overview
The global lithium market was valued at more than 400 LCE kiloton in 2021. The market is estimated to increase during the forecast period: between 2022 and 2027.
As for the future, lithium will be the leading technology in the electric vehicle (EV) industry. With the emergent fuel prices across the world and increasing pollution levels in the environment, many countries across the globe have started investing in lithium-ion technology which is used as a substitute for conventional fuel vehicles in the market.
As a result of lesser manufacturing costs and high-performance delivery, lithium batteries are considered to be the best choice in modern electric vehicles. With growing applications of lithium batteries in aerospace and military operations, the market is considered to grow in the forecasted period.
What Is a Metal Prices API?
The expansion of applications in recent years penetrated all areas of our lives. Nowadays, big companies use different applications to perform a wide range of activities. This phenomenon does not escape the world of precious metals and currencies; so, it is important to keep an eye on those APIs in order to keep up with competence and active in the market.
There are already very competitive companies with a long history in the foreign exchange market. In the last years, companies have incorporated APIs into their daily operations. As a result, we suggest you to try out : Metals-API
Metals-API is a simple API that provides data on a wide range of metals, from copper to gold to palladium to HRC steel. You may also track the value of these metals in over 170 currencies, like USD, EUR, and BTC. It gathers information from reliable banks and financial institutions. Furthermore, both small and major organizations, such as the multinational Barrick Gold, use it.
This metal prices API provides real-time precious metals data with a two decimal point precision and a periodicity of up to 60 seconds. You may analyze values over time and determine the optimal time to invest by using current and historical prices. For this aim, metals-API is also used to detect fluctuation data.
Metals-API started as a basic, lightweight Open-Source API enabling banks to get current and historical precious metals prices. Among the features, accessible are time-series data, volatility statistics, and the day’s lowest and highest prices, as well as precious metals exchange rates and currency conversion. The API provides precise precious metal exchange rate data in over 170 currencies throughout the world.
- Periodicity in real time, history, and tick-by-tick API
- Real-time precious metals prices Gold, silver, palladium, lead, and platinum are the four precious metals API
- Current metal prices of the platinum group and base metals API
- Spot and future prices of gold, silver, palladium, lead, and platinum throughout history
- Intraday and historical charts API
Also published on Medium.