Retrieve monthly Magnesium (MG) prices using this API

Retrieve Monthly Magnesium (MG) Prices Using This API

In the rapidly evolving landscape of metal markets, the ability to access real-time data is crucial for developers and businesses alike. The Metals-API provides a robust solution for retrieving monthly Magnesium (MG) prices, along with a wealth of information about various metals. This blog post will delve into the significance of Magnesium in the metal markets, the innovative capabilities of the Metals-API, and how developers can leverage this technology to create next-generation applications.

About Magnesium (MG)

Magnesium (MG) is an essential metal that plays a vital role in various industries, including automotive, aerospace, and electronics. As a lightweight metal, it is increasingly favored for its strength-to-weight ratio, making it an ideal choice for manufacturers looking to enhance fuel efficiency and reduce emissions. The digital transformation in metal markets has led to a surge in technological innovation and advancement, allowing for more efficient production processes and better resource management.

Data analytics and insights derived from real-time market data are crucial for businesses to make informed decisions. The integration of smart technology in the metal industry has opened up new avenues for tracking prices, understanding market trends, and predicting future movements. As the demand for Magnesium continues to grow, the ability to access accurate and timely data will be paramount for stakeholders in the market.

API Description

The Metals-API is a powerful tool that empowers developers to access real-time metals data, including Magnesium prices. This API is designed to facilitate the integration of metals pricing into applications, enabling businesses to stay ahead in a competitive market. With its user-friendly interface and comprehensive documentation, developers can easily implement the API into their systems.

For more information on how to get started, visit the Metals-API Documentation. This resource provides detailed guidance on API usage, including authentication, endpoints, and response structures.

Key Features and Endpoints

The Metals-API offers a variety of endpoints, each designed to provide specific functionalities that can be leveraged for different applications. Here are some of the key features:

Latest Rates Endpoint: This endpoint provides real-time exchange rate data for Magnesium and other metals, updated every 60 minutes, 10 minutes, or even more frequently, depending on your subscription plan. This feature is essential for businesses that require up-to-the-minute pricing information.
Historical Rates Endpoint: Access historical rates for Magnesium dating back to 2019. By appending a specific date to your query, you can retrieve past pricing data, which is invaluable for trend analysis and forecasting.
Bid and Ask Endpoint: This feature allows you to retrieve real-time bid and ask prices for Magnesium, providing insights into market liquidity and pricing dynamics.
Convert Endpoint: Easily convert any amount of Magnesium from one currency to another, facilitating international transactions and pricing strategies.
Time-Series Endpoint: Query the API for daily historical rates between two dates of your choice, enabling comprehensive analysis of price movements over time.
Fluctuation Endpoint: Track how Magnesium prices fluctuate on a day-to-day basis, helping businesses understand volatility and make informed decisions.
Open/High/Low/Close (OHLC) Price Endpoint: Retrieve detailed pricing information, including the opening, highest, lowest, and closing prices for Magnesium over a specified period.
API Key: Your unique API key is required to access the Metals-API, ensuring secure and authorized usage of the service.
API Response: The API delivers exchange rates relative to USD by default, with all data returned in a structured JSON format for easy integration.
News Endpoint: Stay updated with the latest news articles related to Magnesium and other metals, providing context and insights into market movements.

For a complete list of all supported symbols, including Magnesium, refer to the Metals-API Supported Symbols.

API Endpoint Examples and Responses

Understanding the structure of API responses is crucial for effective implementation. Below are examples of responses from various endpoints:

Latest Rates Endpoint

{
"success": true,
"timestamp": 1768868050,
"base": "USD",
"date": "2026-01-20",
"rates": {
"XMG": 0.000482,
"XAU": 0.000482,
"XAG": 0.03815
},
"unit": "per troy ounce"
}

This response indicates the latest exchange rate for Magnesium (XMG) against USD, along with other metals. The timestamp field provides the time of the data retrieval, ensuring users know how current the information is.

Historical Rates Endpoint

{
"success": true,
"timestamp": 1768781650,
"base": "USD",
"date": "2026-01-19",
"rates": {
"XMG": 0.000485,
"XAU": 0.000485,
"XAG": 0.03825
},
"unit": "per troy ounce"
}

This example shows how to access historical rates for Magnesium, providing valuable data for analysis and reporting.

Time-Series Endpoint

{
"success": true,
"timeseries": true,
"start_date": "2026-01-13",
"end_date": "2026-01-20",
"base": "USD",
"rates": {
"2026-01-13": {
"XMG": 0.000485
},
"2026-01-15": {
"XMG": 0.000483
},
"2026-01-20": {
"XMG": 0.000482
}
},
"unit": "per troy ounce"
}

The time-series response provides daily rates for Magnesium over a specified period, allowing developers to visualize trends and fluctuations.

Convert Endpoint

{
"success": true,
"query": {
"from": "USD",
"to": "XMG",
"amount": 1000
},
"info": {
"timestamp": 1768868050,
"rate": 0.000482
},
"result": 0.482,
"unit": "troy ounces"
}

This response demonstrates the conversion of an amount from USD to Magnesium, showcasing the API's versatility in handling different currencies and metals.

Fluctuation Endpoint

{
"success": true,
"fluctuation": true,
"start_date": "2026-01-13",
"end_date": "2026-01-20",
"base": "USD",
"rates": {
"XMG": {
"start_rate": 0.000485,
"end_rate": 0.000482,
"change": -3.0e-6,
"change_pct": -0.62
}
},
"unit": "per troy ounce"
}

The fluctuation response provides insights into how Magnesium prices have changed over a specified period, which is essential for understanding market dynamics.

OHLC (Open/High/Low/Close) Price Endpoint

{
"success": true,
"timestamp": 1768868050,
"base": "USD",
"date": "2026-01-20",
"rates": {
"XMG": {
"open": 0.000485,
"high": 0.000487,
"low": 0.000481,
"close": 0.000482
}
},
"unit": "per troy ounce"
}

This endpoint provides a comprehensive view of Magnesium's price movements within a specific timeframe, allowing for detailed analysis and reporting.

Bid/Ask Endpoint

{
"success": true,
"timestamp": 1768868050,
"base": "USD",
"date": "2026-01-20",
"rates": {
"XMG": {
"bid": 0.000481,
"ask": 0.000483,
"spread": 2.0e-6
}
},
"unit": "per troy ounce"
}

The bid/ask response provides critical information for traders, indicating the current market price for Magnesium and the spread between buying and selling prices.

Conclusion

The Metals-API is a transformative tool for developers and businesses operating in the metal markets. By providing real-time access to Magnesium prices and a variety of other metals, the API enables users to make informed decisions based on accurate data. The integration of advanced features such as historical rates, fluctuation tracking, and bid/ask pricing empowers businesses to stay competitive in a rapidly changing environment.

As the demand for metals like Magnesium continues to rise, leveraging the capabilities of the Metals-API will be essential for those looking to innovate and thrive in this space. For more information on how to get started, visit the Metals-API Website and explore the extensive Metals-API Documentation for detailed guidance on implementation.

By harnessing the power of real-time data and analytics, developers can create applications that not only meet the needs of today but also anticipate the demands of tomorrow. The future of the metal markets is bright, and with the right tools, businesses can navigate this landscape with confidence.

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Retrieve monthly Magnesium (MG) prices using this API