Get LME Steel Scrap CFR Turkey (STEEL-SC) Historical Prices for Market Analysis using this API
Introduction
In today's rapidly evolving metal markets, having access to accurate and real-time data is crucial for making informed decisions. One of the key players in this space is the LME Steel Scrap CFR Turkey (STEEL-SC), which serves as a benchmark for steel scrap prices in Turkey. To effectively analyze historical prices and trends, developers can leverage the powerful Metals-API. This API provides a comprehensive suite of tools for retrieving historical prices, real-time data, and market insights, enabling developers to build next-generation applications that can transform the way we interact with metal markets.
About LME Steel Scrap CFR Turkey (STEEL-SC)
The LME Steel Scrap CFR Turkey price is a critical indicator for stakeholders in the steel industry, including manufacturers, traders, and investors. As the demand for steel continues to rise globally, understanding the fluctuations in scrap prices is essential for strategic planning and operational efficiency. The digital transformation in metal markets has paved the way for technological innovations that allow for better data analytics and insights. By integrating smart technology, stakeholders can gain a competitive edge through real-time monitoring and analysis of market trends.
With the rise of data analytics, businesses can now harness vast amounts of information to forecast future trends and make data-driven decisions. The integration of smart technology into the steel market not only enhances operational efficiency but also provides a platform for predictive analytics, allowing companies to anticipate market shifts and adjust their strategies accordingly.
Metals-API: Empowering Developers with Real-Time Data
The Metals-API is designed to provide developers with robust tools for accessing real-time and historical metal prices. With its user-friendly interface and comprehensive documentation, the API empowers developers to create applications that can analyze market trends, perform currency conversions, and retrieve historical data with ease. The transformative potential of real-time metals data cannot be overstated, as it allows businesses to respond swiftly to market changes and optimize their operations.
Key Features of Metals-API
The Metals-API offers a variety of endpoints that cater to different needs within the metal market. Here are some of the key features:
Latest Rates Endpoint
The Latest Rates Endpoint provides real-time exchange rate data for metals, updated according to your subscription plan. This feature is invaluable for developers who need to integrate live pricing into their applications. For instance, if you are building a trading platform, accessing the latest rates can help users make informed decisions based on current market conditions.
{
"success": true,
"timestamp": 1747137618,
"base": "USD",
"date": "2025-05-13",
"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
Accessing historical rates is crucial for market analysis. The Historical Rates Endpoint allows developers to retrieve data dating back to 2019. By appending a specific date to the API call, users can analyze past trends and make predictions about future movements in the market.
{
"success": true,
"timestamp": 1747051218,
"base": "USD",
"date": "2025-05-12",
"rates": {
"XAU": 0.000485,
"XAG": 0.03825,
"XPT": 0.000915,
"XPD": 0.000748
},
"unit": "per troy ounce"
}Bid and Ask Endpoint
The Bid and Ask Endpoint is a powerful feature that enables developers to retrieve real-time bid and ask prices for metals. This information is critical for traders who need to understand the market's current buying and selling prices.
{
"success": true,
"timestamp": 1747137618,
"base": "USD",
"date": "2025-05-13",
"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"
}Convert Endpoint
The Convert Endpoint allows users to convert any amount from one metal to another or to/from USD. This feature is particularly useful for businesses that operate in multiple currencies and need to perform conversions regularly.
{
"success": true,
"query": {
"from": "USD",
"to": "XAU",
"amount": 1000
},
"info": {
"timestamp": 1747137618,
"rate": 0.000482
},
"result": 0.482,
"unit": "troy ounces"
}Time-Series Endpoint
The Time-Series Endpoint allows developers to query the API for daily historical rates between two dates of their choice. This feature is essential for analyzing price trends over specific periods, enabling businesses to make data-driven decisions based on historical performance.
{
"success": true,
"timeseries": true,
"start_date": "2025-05-06",
"end_date": "2025-05-13",
"base": "USD",
"rates": {
"2025-05-06": {
"XAU": 0.000485,
"XAG": 0.03825,
"XPT": 0.000915
},
"2025-05-08": {
"XAU": 0.000483,
"XAG": 0.0382,
"XPT": 0.000913
},
"2025-05-13": {
"XAU": 0.000482,
"XAG": 0.03815,
"XPT": 0.000912
}
},
"unit": "per troy ounce"
}Fluctuation Endpoint
The Fluctuation Endpoint provides insights into how metal prices fluctuate on a day-to-day basis. This feature is particularly useful for traders looking to understand market volatility and make informed trading decisions.
{
"success": true,
"fluctuation": true,
"start_date": "2025-05-06",
"end_date": "2025-05-13",
"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"
}Open/High/Low/Close (OHLC) Price Endpoint
The OHLC Price Endpoint allows developers to retrieve the open, high, low, and close prices for a specific time period. This data is crucial for technical analysis and helps traders identify potential entry and exit points in the market.
{
"success": true,
"timestamp": 1747137618,
"base": "USD",
"date": "2025-05-13",
"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"
}Historical LME Endpoint
The Historical LME Endpoint provides access to historical rates for LME symbols dating back to 2008. This feature is particularly useful for researchers and analysts who need to study long-term trends in metal prices.
{
"success": true,
"timestamp": 1747051218,
"base": "USD",
"date": "2025-05-12",
"rates": {
"XAU": 0.000485,
"XAG": 0.03825,
"XPT": 0.000915,
"XPD": 0.000748
},
"unit": "per troy ounce"
}API Key and Authentication
To access the Metals-API, developers must obtain an API key, which is a unique identifier that is passed into the API base URL's access_key parameter. This key is essential for authenticating requests and ensuring that only authorized users can access the data. Proper management of API keys is crucial for maintaining security and preventing unauthorized access to sensitive market data.
Understanding API Responses
The API responses are structured in a way that provides clarity and ease of use for developers. Each response includes a success flag, a timestamp, the base currency, and the requested data. Understanding the significance of each field is essential for effectively utilizing the API. For example, the "rates" field contains the actual pricing data, while the "unit" field indicates the measurement used (e.g., per troy ounce).
Common Use Cases and Implementation Strategies
Developers can implement the Metals-API in various ways to enhance their applications. For instance, a trading platform can utilize the Latest Rates Endpoint to display real-time prices to users, while the Historical Rates Endpoint can be used to generate reports on price trends over time. Additionally, businesses can integrate the Convert Endpoint to facilitate seamless currency conversions for international transactions.
Performance Optimization and Security Considerations
When integrating the Metals-API, developers should consider performance optimization strategies such as caching frequently accessed data to reduce API calls and improve response times. Additionally, implementing proper error handling and recovery strategies is crucial for maintaining application stability. Security best practices, such as using HTTPS for API requests and regularly rotating API keys, should also be prioritized to protect sensitive data.
Conclusion
The LME Steel Scrap CFR Turkey (STEEL-SC) serves as a vital benchmark in the steel market, and accessing its historical prices through the Metals-API can provide invaluable insights for market analysis. With features like real-time rates, historical data, and advanced analytics capabilities, the Metals-API empowers developers to create innovative applications that can transform the way businesses interact with metal markets. By leveraging the power of real-time data and advanced analytics, stakeholders can make informed decisions that drive success in an increasingly competitive landscape.
For more information on how to get started with the Metals-API, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a comprehensive list of available metal symbols. Embrace the future of metal market analysis with the transformative capabilities of the Metals-API.