In this post, we will recommend an API to get data from LME in 2022. You can find with it the most complete data of metals futures prices.
All over the planet, there are different futures and options markets on different issues: energy, currencies, and raw materials. In this case, the largest metal futures and options market in the world today is the LME (London Metal Exchange).
This market is historically the most important. It effectively founded in the year 1877 when merchants gathered in the city’s cafes to buy and sell precious metals. However, the installed capacity was not enough for which this institution emerged. Even at this time, traders from all over the European continent gathered in the center of the English capital.
Futures contracts also started this year as it was not known at the time when the metals would finally arrive. This has to do with the fact that the products came through overseas trade and they did not always know when they were going to arrive or in what state. However, to this day it is still used in an attempt to take advantage of buyers who set future dates and prices through these contacts.
The most important metals you can find on the LME are silver and gold, non-ferrous metals such as aluminum, copper, zinc, nickel, tin, and lead, and minor metals such as cobalt and molybdenum. These are the minor metals because of their scarcity but they are very important for different technological and electronic developments.
Use An API
As we have seen, many people are participating in this market, and many factors that influence it. For this reason, it is very important to be up to date with the information while being able to contemplate past information to compare. You can see how, for example, in moments of greater economic crisis, gold lowered its price while at this moment it is rather stable.
To find this organized and accurate information, you can use an API. This is a software that developers love because its facilities. They incorporate APIs into their web designs and apps to be able to display real-time precious metal information and fluctuation data. To get LME futures data you can use Metals-API.
Why Metals-API
For starters, this is one of the most comprehensive precious metals APIs you can find on the internet. It obtains information on more than 170 metals such as gold, silver, palladium, tin, rhodium, and molybdenum and currencies such as the dollar, euro, yen, and Canadian dollar. In short, you can translate the metals into any currency and compare them. In addition, with the API you can access information on future contracts to be a true professional investor.
On the other hand, programmers love it because it works in various programming languages such as JSON, Python, and PHP. Very important companies like Barrick Gold use it because it’s the most complete. In turn, the API obtains information from the most reliable sources on metals, which is why it is an LME rates API.