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Use An API To Get Cobalt Market Rates Per Kilogram

Cobalt is found exclusively mixed in the Earth’s crust, with the exception of small amounts found in natural iron alloys. 

After all, cobalt is a silver-white, hard, glossy, and crumbly hard magnetic element. Because of its physical characteristics, it’s similar to iron and nickel. Although

Cobalt is stable in air and is unaffected by water, acids may slowly attack it. 

Uses

According to its characteristics, cobalt is commonly used in automotive airbags, chemical industry, hard metals, and corrosion alloys. 

In conclusion, cobalt investors and players from the industries mentioned above need to know real-time cobalt prices. That is, the best way to get this information is by an API.

In order to get kilogram rates of Cobalt, you have to use an online API

Metals-API

Metals-API gathers market data prices from a number of trade sources and global organizations in a variety of forms and frequencies. Commercial sources are given a higher weighting, especially for major currencies and metals, because they more accurately reflect market exchange rates.

How To

1- First, register and get yourself API Key, keep this code safe, as it’s needed to make an API call. Please don’t share your Key, it’s unique for every user.

2- Ready to go? Secondly, you need to know the symbols you’ll use. You can find them here 

LCO stands for Cobalt and USD for United States Dolar

Note: Metals-API has a wide range of precious metals and currencies from all over the world.

3- Now, copy your access key and run the API. Here’s an example:

https://metals-api.com/api/latest?access_key=YOUR_KEY&base=LCO&symbols=USD

4- And this is how it shows:

5- Finally, take the output in ounces value and multiply it by 0.0283495. That is, you now have the kilogram price of Cobalt in USD Currency.

Accuracy

In order to achieve the best level of coverage and correctness, the system provides separate priorities to each data source and validates each metal/forex rate. However, if one source is unable to provide a reliable quote for this currency pair, the next highest provider is considered. 

Certainly, this helps to avoid inconsistencies and gives accurate spot conversion rates for the vast majority of currencies to six decimal places.

Key Features

  • Use a dependable metals pricing API trusted by hundreds of industry companies to get institutional-quality real-time precious metal values via an exceptionally simple API.
  • Gold, Silver, and other metals pricing in real-time might be easily integrated into spreadsheets, websites, mobile apps, and other commercial applications.
  • Reduce the amount of time it takes for apps that rely on precious metal prices to reach the market.
  • Using cloud APIs, you might be able to manage the challenges and complications of legacy feeds.

Pros

  • Real-time periodicity, history, and a tick-by-tick API
  • Pricing of precious and basic metals in real-time
  • Metal prices for the platinum group and base metals are updated in real-time. 
  • Graphs of APIs used during the past and now.
  • Gold, silver, palladium, and platinum spot and predicted prices throughout history

Also published on Medium.

Published inAppsTechnology

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