Access real-time Magnesium (MG) prices using this API

Access Real-Time Magnesium (MG) Prices Using This API

In today's fast-paced digital landscape, the ability to access real-time data is crucial for businesses and developers alike. One such area where real-time data can significantly impact decision-making is in the metals market, particularly for Magnesium (MG). The Metals-API offers a powerful solution for accessing real-time Magnesium prices and other metal data, enabling developers to create innovative applications that leverage this information. This blog post will explore the capabilities of the Metals-API, focusing on Magnesium, its markets, and how the API functions.

Metals-API Information

About Magnesium (MG)

Magnesium is a lightweight metal that plays a vital role in various industries, including automotive, aerospace, and electronics. As the demand for lightweight materials increases, Magnesium has gained prominence due to its excellent strength-to-weight ratio and corrosion resistance. The digital transformation in metal markets has led to technological innovations that enhance the way businesses interact with metal data. By utilizing data analytics and insights, companies can make informed decisions, optimize their supply chains, and improve their overall efficiency.

Technological advancements have paved the way for smart technology integration in the metals market. With the rise of IoT and AI, businesses can now monitor market trends and fluctuations in real-time, allowing for agile responses to market changes. The future of Magnesium and other metals is bright, with possibilities for enhanced applications and innovative uses that can reshape industries.

API Description

The Metals-API is designed to provide developers with easy access to real-time and historical metal prices, including Magnesium. This API empowers developers to build next-generation applications that require accurate and timely metal data. With its robust capabilities, the Metals-API allows for seamless integration into various platforms, enabling businesses to harness the power of real-time data.

One of the key features of the Metals-API is its ability to deliver real-time exchange rate data, updated frequently based on the subscription plan. This ensures that users have access to the most current information, which is essential for making informed decisions in a volatile market. The API also offers historical data dating back to 2019, allowing users to analyze trends and make predictions based on past performance.

Key Features and Endpoints

The Metals-API provides a variety of endpoints that cater to different needs. Here are some of the most notable features:

• Latest Rates Endpoint: Depending on your subscription plan, this endpoint returns real-time exchange rate data for Magnesium and other metals, updated every 60 minutes, every 10 minutes, or even more frequently. This feature is crucial for traders and businesses that need to stay updated on market fluctuations.
• Historical Rates Endpoint: Users can access historical rates for Magnesium and other metals dating back to 2019. By appending a specific date to the API request, developers can retrieve past prices, which is essential for trend analysis and forecasting.
• Bid and Ask Endpoint: This powerful feature allows users to retrieve real-time bid and ask prices for Magnesium. Understanding the bid-ask spread is vital for traders looking to optimize their buying and selling strategies.
• Convert Endpoint: The Metals-API includes a currency conversion endpoint, enabling users to convert any amount from one metal to another or to/from USD. This feature is particularly useful for businesses operating in multiple currencies.
• Time-Series Endpoint: This endpoint allows users to query the API for daily historical rates between two dates of their choice. It is beneficial for analyzing price trends over specific periods.
• Fluctuation Endpoint: Users can track how Magnesium prices fluctuate on a day-to-day basis using this endpoint. It provides insights into market volatility and helps businesses make informed decisions.
• Carat Endpoint: This endpoint allows users to retrieve information about Gold rates by Carat, which can be useful for businesses dealing with precious metals.
• Lowest/Highest Price Endpoint: Users can query the API to get the lowest and highest price of Magnesium for a specific date, providing insights into market extremes.
• Open/High/Low/Close (OHLC) Price Endpoint: This endpoint provides the open, high, low, and close prices for Magnesium, which is essential for traders looking to analyze market performance.
• Historical LME Endpoint: This endpoint allows users to access historical rates for LME symbols, dating back to 2008, providing a comprehensive view of market trends.
• API Key: Each user is assigned a unique API key that must be included in API requests to authenticate access.
• API Response: The Metals-API delivers exchange rates relative to USD by default, ensuring consistency in data presentation.
• Available Endpoints: The API comes with multiple endpoints, each providing different functionalities tailored to user needs.
• Supported Symbols Endpoint: This endpoint returns all available metal symbols, allowing users to easily identify which metals they can query.
• Gold Price India Endpoint: Users can retrieve the latest gold price in India using this dedicated endpoint, which is beneficial for businesses operating in the Indian market.
• News Endpoint: The Metals-API provides access to the latest news articles related to various metals, keeping users informed about market developments.

List of Symbols

The Metals-API provides access to a comprehensive range of metal symbols, including Magnesium (MG). For a complete list of all supported symbols and their specifications, refer to the Metals-API Supported Symbols page.

API Endpoint Examples and Responses

Understanding the API responses is crucial for developers. Below are examples of various API endpoints and their responses:

Latest Rates Endpoint

Get real-time exchange rates for all available metals.

{
    "success": true,
    "timestamp": 1745463618,
    "base": "USD",
    "date": "2025-04-24",
    "rates": {
        "XAU": 0.000482,
        "XAG": 0.03815,
        "XPT": 0.000912,
        "XPD": 0.000744,
        "XCU": 0.294118,
        "XAL": 0.434783,
        "XNI": 0.142857,
        "XZN": 0.344828
    },
    "unit": "per troy ounce"
}

Historical Rates Endpoint

Access historical exchange rates for any date since 1999.

{
    "success": true,
    "timestamp": 1745377218,
    "base": "USD",
    "date": "2025-04-23",
    "rates": {
        "XAU": 0.000485,
        "XAG": 0.03825,
        "XPT": 0.000915,
        "XPD": 0.000748
    },
    "unit": "per troy ounce"
}

Time-series Endpoint

Get exchange rates for a specific time period.

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-04-17",
    "end_date": "2025-04-24",
    "base": "USD",
    "rates": {
        "2025-04-17": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-04-19": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-04-24": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

Convert Endpoint

Convert any amount from one metal to another or to/from USD.

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1745463618,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

Fluctuation Endpoint

Track rate fluctuations between two dates.

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-04-17",
    "end_date": "2025-04-24",
    "base": "USD",
    "rates": {
        "XAU": {
            "start_rate": 0.000485,
            "end_rate": 0.000482,
            "change": -3.0e-6,
            "change_pct": -0.62
        },
        "XAG": {
            "start_rate": 0.03825,
            "end_rate": 0.03815,
            "change": -0.0001,
            "change_pct": -0.26
        },
        "XPT": {
            "start_rate": 0.000915,
            "end_rate": 0.000912,
            "change": -3.0e-6,
            "change_pct": -0.33
        }
    },
    "unit": "per troy ounce"
}

OHLC (Open/High/Low/Close) Endpoint

Get OHLC data for a specific time period.

{
    "success": true,
    "timestamp": 1745463618,
    "base": "USD",
    "date": "2025-04-24",
    "rates": {
        "XAU": {
            "open": 0.000485,
            "high": 0.000487,
            "low": 0.000481,
            "close": 0.000482
        },
        "XAG": {
            "open": 0.03825,
            "high": 0.0383,
            "low": 0.0381,
            "close": 0.03815
        },
        "XPT": {
            "open": 0.000915,
            "high": 0.000918,
            "low": 0.00091,
            "close": 0.000912
        }
    },
    "unit": "per troy ounce"
}

Bid/Ask Endpoint

Get current bid and ask prices for metals.

{
    "success": true,
    "timestamp": 1745463618,
    "base": "USD",
    "date": "2025-04-24",
    "rates": {
        "XAU": {
            "bid": 0.000481,
            "ask": 0.000483,
            "spread": 2.0e-6
        },
        "XAG": {
            "bid": 0.0381,
            "ask": 0.0382,
            "spread": 0.0001
        },
        "XPT": {
            "bid": 0.000911,
            "ask": 0.000913,
            "spread": 2.0e-6
        }
    },
    "unit": "per troy ounce"
}

Conclusion

The Metals-API is a powerful tool for developers looking to access real-time Magnesium prices and other metal data. By leveraging the capabilities of this API, businesses can enhance their decision-making processes, optimize their operations, and stay ahead of market trends. With features like the Latest Rates Endpoint, Historical Rates Endpoint, and Bid/Ask Endpoint, the Metals-API provides comprehensive access to critical data that can drive innovation and efficiency in the metals market.

For more information on how to implement the Metals-API in your applications, refer to the Metals-API Documentation. Explore the full range of supported symbols on the Metals-API Supported Symbols page, and start harnessing the power of real-time metal data today!