Get Magnesium (MG) Historical Prices using this API for Financial Modeling

Get Magnesium (MG) Historical Prices using this API for Financial Modeling

In today's rapidly evolving financial landscape, the demand for accurate and timely data is paramount, especially in the metals market. One such metal that has garnered attention is Magnesium (MG). Understanding its historical prices can provide invaluable insights for investors, analysts, and developers alike. In this blog post, we will explore how to obtain historical prices for Magnesium using the Metals-API, a powerful tool designed for financial modeling and analysis.

Metals-API Information

About Magnesium (MG)

Magnesium is a lightweight metal that plays a crucial role in various industries, including automotive, aerospace, and electronics. As the world shifts towards digital transformation, the metal markets are also experiencing significant changes. The integration of smart technologies and data analytics is revolutionizing how we approach metal trading and investment. With the rise of technological innovations, stakeholders can now leverage real-time data to make informed decisions.

Data analytics provides insights that were previously unattainable, allowing for better forecasting and risk management. The future of metal markets, including Magnesium, is likely to be shaped by advancements in technology, enabling more efficient trading and investment strategies. As developers, understanding how to harness these tools is essential for creating next-generation applications that can adapt to the dynamic nature of the metals market.

API Description

The Metals-API is a robust platform that offers a suite of features designed to provide real-time and historical data for various metals, including Magnesium. This API empowers developers to build applications that can access and analyze metals data seamlessly. With its user-friendly interface and comprehensive documentation, the Metals-API is an invaluable resource for anyone looking to integrate metals data into their applications.

One of the key advantages of the Metals-API is its ability to deliver real-time exchange rate data, updated frequently based on the user's subscription plan. This capability allows developers to create applications that can respond to market changes instantaneously, providing users with the most accurate information available.

Key Features and Endpoints

The Metals-API offers a variety of endpoints that cater to different needs. Each endpoint serves a specific purpose, allowing developers to access a wealth of information about metals. Below, we will explore some of the most notable features and their potential applications.

Latest Rates Endpoint

The Latest Rates Endpoint provides real-time exchange rate data for all available metals, including Magnesium. Depending on your subscription plan, this endpoint can return data updated every 60 minutes, every 10 minutes, or even more frequently. This feature is particularly useful for traders who need to make quick decisions based on the latest market conditions.

{
    "success": true,
    "timestamp": 1752120059,
    "base": "USD",
    "date": "2025-07-10",
    "rates": {
        "XMG": 0.000482
    },
    "unit": "per troy ounce"
}

Historical Rates Endpoint

The Historical Rates Endpoint allows users to access historical exchange rates for Magnesium dating back to 2019. By appending a specific date to the API request, developers can retrieve historical data that is essential for trend analysis and forecasting.

{
    "success": true,
    "timestamp": 1752033659,
    "base": "USD",
    "date": "2025-07-09",
    "rates": {
        "XMG": 0.000485
    },
    "unit": "per troy ounce"
}

Bid And Ask Endpoint

The Bid and Ask Endpoint is a powerful feature that enables users to retrieve real-time bid and ask prices for Magnesium. This information is crucial for traders who need to understand the market's supply and demand dynamics.

{
    "success": true,
    "timestamp": 1752120059,
    "base": "USD",
    "date": "2025-07-10",
    "rates": {
        "XMG": {
            "bid": 0.000481,
            "ask": 0.000483,
            "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 applications that require currency conversion for pricing or valuation purposes.

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XMG",
        "amount": 1000
    },
    "info": {
        "timestamp": 1752120059,
        "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 invaluable for analyzing trends over time and making informed investment decisions.

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-07-03",
    "end_date": "2025-07-10",
    "base": "USD",
    "rates": {
        "2025-07-03": {
            "XMG": 0.000485
        },
        "2025-07-10": {
            "XMG": 0.000482
        }
    },
    "unit": "per troy ounce"
}

Fluctuation Endpoint

The Fluctuation Endpoint provides information about how prices fluctuate on a day-to-day basis. This data is essential for understanding market volatility and can help traders make better decisions.

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-07-03",
    "end_date": "2025-07-10",
    "base": "USD",
    "rates": {
        "XMG": {
            "start_rate": 0.000485,
            "end_rate": 0.000482,
            "change": -3.0e-6,
            "change_pct": -0.62
        }
    },
    "unit": "per troy ounce"
}

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

The OHLC Price Endpoint allows users to query the API for the open, high, low, and close prices for Magnesium over a specific time period. This data is crucial for technical analysis and understanding market trends.

{
    "success": true,
    "timestamp": 1752120059,
    "base": "USD",
    "date": "2025-07-10",
    "rates": {
        "XMG": {
            "open": 0.000485,
            "high": 0.000487,
            "low": 0.000481,
            "close": 0.000482
        }
    },
    "unit": "per troy ounce"
}

Historical LME Endpoint

The Historical LME Endpoint provides access to historical rates for LME symbols, dating back to 2008. This endpoint is particularly useful for those looking to analyze long-term trends in the metals market.

API Key and Authentication

To access the Metals-API, users must obtain an API key, which is a unique identifier that must be included in each API request. This key is essential for authentication and ensures that only authorized users can access the data.

API Response

The API delivers exchange rates relative to USD by default. All data is returned in a structured JSON format, making it easy for developers to parse and utilize the information in their applications.

List of Symbols

The Metals-API provides access to a comprehensive range of metal symbols. For a complete list of all supported symbols and their specifications, refer to the Metals-API Supported Symbols page. This resource is invaluable for developers who need to ensure they are using the correct symbols in their API requests.

Conclusion

In conclusion, the Metals-API offers a powerful suite of tools for accessing historical prices and real-time data for Magnesium and other metals. By leveraging this API, developers can create innovative applications that provide valuable insights into the metals market. The ability to access historical rates, real-time prices, and various endpoints allows for comprehensive analysis and informed decision-making.

As the metals market continues to evolve, staying informed and utilizing advanced tools like the Metals-API will be crucial for success. Whether you are a trader, analyst, or developer, understanding how to harness the power of real-time metals data will position you for future success in this dynamic field.