Get Copper - LME 3-month (XCU3M) Historical Prices for Data Analysis using this API

Introduction

Copper, represented by the symbol XCU, is one of the most important metals in the world, playing a crucial role in various industries, from electrical wiring to construction. As the demand for copper continues to rise, driven by technological advancements and the digital transformation of metal markets, having access to accurate historical price data becomes essential for data analysis and decision-making. In this blog post, we will explore how to obtain historical prices for copper using the Metals-API, a powerful tool that provides real-time and historical data for various metals.

About Copper (XCU)

Copper is a versatile metal known for its excellent electrical conductivity, corrosion resistance, and malleability. It is widely used in electrical applications, plumbing, and roofing, making it a vital component in modern infrastructure. The digital transformation in metal markets has led to an increased reliance on data analytics and insights, allowing businesses to make informed decisions based on real-time market trends.

Technological innovation in the mining and processing of copper has also contributed to its growing significance. Smart technology integration, such as IoT devices and AI-driven analytics, is revolutionizing how copper is sourced, processed, and traded. As we look to the future, the potential for copper to play a key role in sustainable energy solutions, such as electric vehicles and renewable energy systems, is becoming increasingly apparent.

Metals-API Overview

The Metals-API is a comprehensive JSON API that provides access to real-time and historical prices for various metals, including copper. It empowers developers to build next-generation applications that require accurate and timely data. With its user-friendly interface and extensive documentation, the Metals-API simplifies the process of integrating metal price data into applications, enabling businesses to leverage insights for strategic decision-making.

Key Features of Metals-API

The Metals-API offers a range of endpoints that cater to different data needs. Here are some of the key features:

• 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: Access historical rates for most metals dating back to 2019. By appending a specific date to the endpoint, users can retrieve past prices for analysis.
• Bid and Ask Endpoint: This feature allows users to retrieve real-time bid and ask prices, providing insights into market conditions and helping traders make informed decisions.
• Convert Endpoint: The conversion endpoint enables users to convert amounts between different metals or to/from USD, facilitating easy calculations for various applications.
• Time-Series Endpoint: Users can query the API for daily historical rates between two chosen dates, allowing for in-depth analysis of price trends over time.
• Fluctuation Endpoint: This endpoint provides information on how metal prices fluctuate on a day-to-day basis, helping users understand market volatility.
• Open/High/Low/Close (OHLC) Price Endpoint: Retrieve OHLC data for specific time periods, which is essential for technical analysis and trading strategies.
• Historical LME Endpoint: Access historical rates for LME symbols, dating back to 2008, which is particularly useful for traders and analysts focused on the London Metal Exchange.
• API Key: Each user receives a unique API key that must be included in requests to authenticate and access the data.
• API Response: The API returns exchange rates relative to USD by default, providing a consistent basis for analysis.
• Supported Symbols Endpoint: This endpoint returns a constantly updated list of all available metal symbols, ensuring users have access to the latest data.
• News Endpoint: Stay updated with the latest news articles related to various metals, providing context to market movements.

Accessing Historical Prices for Copper

To access historical prices for copper using the Metals-API, you will primarily utilize the Historical Rates Endpoint. This endpoint allows you to specify a date and retrieve the price of copper on that particular day. For example, if you want to know the price of copper on May 21, 2025, you would structure your API request accordingly.

Example Request

To get the historical price for copper, you would make a GET request to the following endpoint:

https://metals-api.com/api/historical/XCU?access_key=YOUR_API_KEY&date=2025-05-21

Example Response

The response from the API will look something like this:

{
    "success": true,
    "timestamp": 1747803667,
    "base": "USD",
    "date": "2025-05-21",
    "rates": {
        "XCU": 0.294118
    },
    "unit": "per troy ounce"
}

In this response, the rates field contains the price of copper (XCU) for the specified date, which is essential for historical analysis.

Understanding API Responses

When working with the Metals-API, understanding the structure of the API responses is crucial for effective data analysis. Each response typically includes the following fields:

• success: A boolean indicating whether the request was successful.
• timestamp: The server's timestamp when the request was processed.
• base: The base currency for the exchange rates, which is usually USD.
• date: The date for which the rates are provided.
• rates: An object containing the exchange rates for various metals, including copper.
• unit: The unit of measurement for the rates, typically per troy ounce.

Practical Use Cases

Developers can leverage the Metals-API to create a variety of applications that require historical price data for copper. Here are some practical use cases:

• Investment Analysis: Investors can analyze historical price trends to make informed decisions about buying or selling copper.
• Market Research: Researchers can study price fluctuations over time to understand market dynamics and predict future trends.
• Supply Chain Management: Businesses can monitor copper prices to optimize procurement strategies and manage costs effectively.

Common Pitfalls and Troubleshooting

When using the Metals-API, developers may encounter common issues that can hinder their ability to retrieve data effectively. Here are some troubleshooting tips:

• Invalid API Key: Ensure that you are using a valid API key in your requests. An invalid key will result in an authentication error.
• Rate Limiting: Be aware of your subscription plan's rate limits. Exceeding these limits may result in temporary access restrictions.
• Incorrect Date Format: Ensure that dates are formatted correctly (YYYY-MM-DD) when making requests to the historical rates endpoint.

Performance Optimization

To optimize the performance of applications using the Metals-API, consider the following strategies:

• Caching Responses: Implement caching mechanisms to store frequently accessed data, reducing the number of API calls and improving response times.
• Batch Requests: If your application requires data for multiple metals, consider making batch requests to minimize the number of individual API calls.
• Efficient Data Handling: Process and analyze data efficiently to reduce latency and improve overall application performance.

Security Best Practices

When integrating the Metals-API into your applications, it is essential to follow security best practices:

• Secure API Key Storage: Store your API key securely and avoid exposing it in client-side code.
• Use HTTPS: Always make API requests over HTTPS to ensure data is transmitted securely.
• Implement Rate Limiting: Protect your application from abuse by implementing rate limiting on API calls.

Conclusion

Accessing historical prices for copper using the Metals-API is a straightforward process that provides developers with the tools needed for effective data analysis. By leveraging the various endpoints and understanding the API responses, developers can create applications that harness the power of real-time and historical metal price data. As the demand for copper continues to grow, the ability to analyze price trends and fluctuations will be invaluable for businesses and investors alike. For more information on how to get started, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a complete list of available metals.