Home
Blog
Get LME Steel Scrap CFR Turkey (STEEL-SC) Historical Prices to Enhance Your Financial Models using this API

Get LME Steel Scrap CFR Turkey (STEEL-SC) Historical Prices to Enhance Your Financial Models using this API

Get LME Steel Scrap CFR Turkey (STEEL-SC) Historical Prices to Enhance Your Financial Models using this API

Introduction

In the ever-evolving landscape of financial modeling and market analysis, having access to accurate and timely data is paramount. For those involved in the metals market, understanding the historical prices of LME Steel Scrap CFR Turkey (STEEL-SC) can significantly enhance financial models and investment strategies. This blog post will delve into how to obtain historical prices using the Metals-API, a powerful tool that provides real-time and historical data for various metals, including LME Steel Scrap. We will explore the API's capabilities, its innovative features, and how it can empower developers to create next-generation applications.

About LME Steel Scrap CFR Turkey (STEEL-SC)

The London Metal Exchange (LME) is a key player in the global metals market, providing a platform for trading various metals, including steel scrap. The price of LME Steel Scrap CFR Turkey is influenced by multiple factors, including supply and demand dynamics, geopolitical events, and technological advancements in the industry. As the market undergoes digital transformation, the integration of smart technologies and data analytics is becoming increasingly important. This shift allows for better insights into market trends and price fluctuations, enabling stakeholders to make informed decisions.

Technological innovation is reshaping the way we interact with metals data. With the rise of data analytics, stakeholders can now leverage insights derived from historical price data to forecast future trends. The Metals-API serves as a bridge between raw data and actionable insights, allowing developers to build applications that can analyze and visualize price trends effectively.

Metals-API: A Gateway to Real-Time Metals Data

The Metals-API is designed to provide developers with easy access to real-time and historical metals data. It offers a comprehensive suite of features that cater to various use cases, from simple price retrieval to complex data analysis. The API's capabilities include:

  • Latest Rates Endpoint: This endpoint provides real-time exchange rate data for metals, updated based on your subscription plan. Depending on the plan, updates can occur every 60 minutes or even every 10 minutes.
  • Historical Rates Endpoint: Users can access historical rates dating back to 2019 by appending a specific date to the API request. This feature is crucial for analyzing past market trends and making informed predictions.
  • Bid and Ask Endpoint: This powerful feature allows users to retrieve real-time bid and ask prices for metals, providing insights into market liquidity and pricing strategies.
  • Convert Endpoint: This endpoint enables users to convert amounts between different metals or to/from USD, facilitating seamless transactions and calculations.
  • Time-Series Endpoint: Users can query the API for daily historical rates between two chosen dates, allowing for in-depth analysis of price movements over time.
  • Fluctuation Endpoint: This endpoint provides information on how prices fluctuate on a day-to-day basis, helping users understand market volatility.
  • Carat Endpoint: Users can retrieve gold rates by carat, which is essential for jewelers and investors in the gold market.
  • Lowest/Highest Price Endpoint: This feature allows users to query the API for the lowest and highest prices over a specified period, providing insights into market extremes.
  • Open/High/Low/Close (OHLC) Price Endpoint: Users can access OHLC data for specific periods, which is vital for technical analysis and trading strategies.
  • Historical LME Endpoint: This endpoint provides access to historical rates for LME symbols dating back to 2008, allowing for extensive market analysis.
  • API Key: Each user is assigned a unique API key that must be included in requests to authenticate and authorize access to the API.
  • API Response: The API delivers exchange rates relative to USD by default, ensuring consistency in data interpretation.
  • Available Endpoints: The Metals-API offers a wide range of endpoints, each designed for specific functionalities, making it a versatile tool for developers.
  • Supported Symbols Endpoint: This endpoint provides a constantly updated list of all available metal symbols, ensuring users have access to the latest data.
  • Gold Price India Endpoint: Users can retrieve the latest gold prices in India, catering to regional market needs.
  • News Endpoint: This feature allows users to access the latest news articles related to various metals, keeping them informed about market developments.

Key Features and Endpoints Explained

To fully leverage the capabilities of the Metals-API, it is essential to understand how each endpoint functions and the specific data it provides. Below, we will explore some of the most critical endpoints in detail, providing examples and explanations of their responses.

Latest Rates Endpoint

The Latest Rates Endpoint is designed to provide real-time exchange rates for all available metals. This endpoint is particularly useful for traders and analysts who need up-to-the-minute pricing information. The response includes a timestamp, base currency, date, and rates for various metals.

{
    "success": true,
    "timestamp": 1748980813,
    "base": "USD",
    "date": "2025-06-03",
    "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"
}

In this example, the response indicates that the base currency is USD, and it provides the latest rates for various metals, including gold (XAU), silver (XAG), and platinum (XPT). Each rate is expressed in terms of troy ounces, which is the standard measurement for precious metals.

Historical Rates Endpoint

The Historical Rates Endpoint allows users to access historical exchange rates for any date since 1999. This feature is invaluable for conducting trend analysis and understanding how prices have evolved over time.

{
    "success": true,
    "timestamp": 1748894413,
    "base": "USD",
    "date": "2025-06-02",
    "rates": {
        "XAU": 0.000485,
        "XAG": 0.03825,
        "XPT": 0.000915,
        "XPD": 0.000748
    },
    "unit": "per troy ounce"
}

In this response, the user can see the historical rates for gold, silver, platinum, and palladium on a specific date. This data can be used to identify patterns and make predictions about future price movements.

Time-Series Endpoint

The Time-Series Endpoint enables users to query the API for daily historical rates between two specified dates. This functionality is crucial for analyzing trends over a defined period.

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-05-27",
    "end_date": "2025-06-03",
    "base": "USD",
    "rates": {
        "2025-05-27": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-05-29": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-06-03": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

This response provides daily rates for the specified period, allowing users to visualize trends and fluctuations in metal prices over time. Such analysis can inform trading strategies and investment decisions.

Convert Endpoint

The Convert Endpoint is a versatile feature that allows users to convert any amount from one metal to another or to/from USD. This is particularly useful for traders who need to calculate the equivalent value of metals in different currencies.

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1748980813,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

In this example, the user is converting 1000 USD to gold (XAU). The response indicates the conversion rate and the resulting amount in troy ounces. This feature simplifies financial calculations and enhances trading efficiency.

Fluctuation Endpoint

The Fluctuation Endpoint provides insights into how prices fluctuate between two specified dates. This information is essential for understanding market volatility and making informed trading decisions.

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-05-27",
    "end_date": "2025-06-03",
    "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"
}

This response details the price changes for gold, silver, and platinum over the specified period, including both absolute and percentage changes. Such data is crucial for traders looking to capitalize on market movements.

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

The OHLC Price Endpoint provides users with open, high, low, and close prices for a specific time period. This data is essential for technical analysis and helps traders identify potential entry and exit points.

{
    "success": true,
    "timestamp": 1748980813,
    "base": "USD",
    "date": "2025-06-03",
    "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"
}

This response provides a comprehensive view of price movements for the specified date, allowing traders to analyze market behavior and make informed decisions.

Bid/Ask Endpoint

The Bid/Ask Endpoint is crucial for understanding market liquidity. It provides current bid and ask prices for metals, allowing traders to gauge market sentiment and make strategic decisions.

{
    "success": true,
    "timestamp": 1748980813,
    "base": "USD",
    "date": "2025-06-03",
    "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"
}

This response provides the current bid and ask prices for gold, silver, and platinum, along with the spread. Understanding the bid-ask spread is essential for traders to assess transaction costs and market conditions.

Common Use Cases and Integration Strategies

Integrating the Metals-API into applications can unlock numerous possibilities for developers. Here are some common use cases:

  • Financial Applications: Developers can create applications that provide real-time pricing information, historical analysis, and forecasting tools for investors and traders.
  • Market Analysis Tools: By leveraging the API's historical data, developers can build tools that analyze trends and provide insights into market behavior.
  • Trading Platforms: The API can be integrated into trading platforms to provide users with real-time bid/ask prices and historical data for making informed trading decisions.
  • Portfolio Management: Investors can use the API to track the performance of their metal investments and make adjustments based on real-time data.

Performance Optimization and Security Considerations

When integrating the Metals-API into applications, it is essential to consider performance optimization and security best practices. Here are some strategies:

  • Rate Limiting: Be aware of the API's rate limits based on your subscription plan. Implement caching strategies to minimize unnecessary API calls and improve performance.
  • Error Handling: Implement robust error handling to manage API response errors gracefully. This includes handling rate limit errors, timeouts, and unexpected response formats.
  • Data Validation: Ensure that all data received from the API is validated and sanitized before use to prevent security vulnerabilities.
  • Secure API Key Management: Store your API key securely and avoid exposing it in client-side code. Use environment variables or secure vaults for sensitive information.

Conclusion

Accessing historical prices for LME Steel Scrap CFR Turkey (STEEL-SC) through the Metals-API can significantly enhance financial models and market analysis. The API's extensive features, including real-time pricing, historical data, and various endpoints, empower developers to create innovative applications that leverage metals data effectively. By understanding the API's capabilities and implementing best practices for integration, developers can unlock the full potential of real-time metals data.

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 page for a comprehensive list of available metal symbols. Visit the Metals-API Website to learn more about the API and its capabilities.

Ready to use Metals-API?

Try it now!

Search

Related Posts

Recent Posts