How to Get Rhenium (RHENIUM) Historical Prices using this API for Data Analysis

Introduction

In the world of data analysis, having access to historical prices of metals like Rhenium (RHENIUM) is crucial for making informed decisions. The Metals-API provides a powerful solution for developers looking to retrieve historical price data for various metals, including Rhenium. This blog post will guide you through the process of obtaining historical prices using the Metals-API, exploring its features, capabilities, and practical applications in data analysis.

Understanding Rhenium (RHENIUM)

Rhenium is a rare and valuable metal known for its high melting point and exceptional resistance to corrosion. It is primarily used in high-temperature superalloys and catalysts in the petroleum industry. As the demand for Rhenium continues to grow, understanding its historical price trends becomes increasingly important for investors, manufacturers, and analysts alike.

Metals-API Overview

The Metals-API is a comprehensive platform that provides real-time and historical data for a wide range of metals. It empowers developers to build applications that require accurate and timely metal pricing information. The API offers various endpoints that cater to different data needs, making it a versatile tool for data analysis.

Digital Transformation in Metal Markets

The integration of technology in metal markets has transformed how data is accessed and utilized. With the Metals-API, developers can leverage real-time data to create applications that analyze market trends, forecast prices, and optimize trading strategies. This digital transformation is not only enhancing transparency but also enabling more informed decision-making.

Technological Innovation and Advancement

Technological advancements have led to the development of sophisticated algorithms and data analytics tools that can process vast amounts of data. The Metals-API is at the forefront of this innovation, offering features that allow users to access historical data, track fluctuations, and convert between different metal prices seamlessly.

Data Analytics and Insights

Data analytics plays a crucial role in understanding market dynamics. By utilizing the Metals-API, developers can extract valuable insights from historical price data. This information can be used to identify patterns, assess risks, and make strategic decisions based on comprehensive analysis.

Smart Technology Integration

The Metals-API can be integrated with various smart technologies, enabling developers to create applications that provide real-time alerts, automated trading, and predictive analytics. This integration enhances the overall user experience and allows for more proactive management of metal investments.

Future Trends and Possibilities

As the demand for metals continues to rise, the need for accurate data will only increase. The Metals-API is poised to evolve alongside market trends, offering new features and capabilities that will further enhance data accessibility and usability for developers and analysts.

API Features and Capabilities

The Metals-API offers a range of features that cater to the diverse needs of developers. Here are some of the key functionalities:

Latest Rates Endpoint

The Latest Rates Endpoint provides real-time exchange rate data for metals. Depending on your subscription plan, this endpoint can return data updated every 60 minutes, every 10 minutes, or even more frequently. This feature is essential for applications that require up-to-the-minute pricing information.

{
    "success": true,
    "timestamp": 1746669919,
    "base": "USD",
    "date": "2025-05-08",
    "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

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

{
    "success": true,
    "timestamp": 1746583519,
    "base": "USD",
    "date": "2025-05-07",
    "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 provides real-time bid and ask prices for metals. This feature is particularly useful for traders who need to make quick decisions based on current market conditions. The bid price represents the maximum price that a buyer is willing to pay, while the ask price is the minimum price a seller is willing to accept.

{
    "success": true,
    "timestamp": 1746669919,
    "base": "USD",
    "date": "2025-05-08",
    "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 applications that require currency conversion for pricing or trading purposes.

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1746669919,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

Time-Series Endpoint

The Time-Series Endpoint allows users to query the API for daily historical rates between two dates of their choice. This feature is essential for analyzing trends over specific periods and understanding how prices have fluctuated over time.

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-05-01",
    "end_date": "2025-05-08",
    "base": "USD",
    "rates": {
        "2025-05-01": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-05-03": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-05-08": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

Fluctuation Endpoint

The Fluctuation Endpoint provides information about how prices fluctuate on a day-to-day basis. This feature is useful for understanding market volatility and making informed trading decisions based on historical price movements.

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-05-01",
    "end_date": "2025-05-08",
    "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 users to retrieve the open, high, low, and close prices for a specific time period. This data is essential for technical analysis and helps traders make decisions based on historical price performance.

{
    "success": true,
    "timestamp": 1746669919,
    "base": "USD",
    "date": "2025-05-08",
    "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 users interested in the London Metal Exchange prices, allowing for comprehensive analysis of historical trends.

API Key and Authentication

To access the Metals-API, users must obtain an API key, which is passed into the API base URL's access_key parameter. This key is essential for authentication and ensures that only authorized users can access the data.

API Response Structure

The API responses are structured in a JSON format, providing clear and concise data. Each response includes fields such as success status, timestamp, base currency, date, rates, and unit. Understanding these fields is crucial for developers to effectively utilize the API.

Common Use Cases

Developers can leverage the Metals-API for various applications, including:

• Building trading platforms that require real-time pricing data.
• Creating analytical tools for market trend analysis.
• Developing applications that provide alerts for price fluctuations.
• Integrating with financial systems for comprehensive reporting and analysis.

Conclusion

Accessing historical prices for Rhenium and other metals is essential for data analysis and informed decision-making. The Metals-API offers a robust solution for developers, providing a wide range of features and endpoints that cater to various data needs. By leveraging this API, developers can create innovative applications that harness the power of real-time and historical metal pricing data.

For more information on the available symbols, refer to the Metals-API Supported Symbols page. Whether you are building a trading application or conducting market analysis, the Metals-API is a valuable resource that can enhance your capabilities and drive better outcomes.