How to get Iron Ore (IRON) prices using this API for your trading application

Introduction

In the fast-paced world of trading, having access to real-time data is crucial for making informed decisions. One of the essential commodities in the trading market is Iron Ore, represented by the symbol IRON. With the rise of digital transformation in metal markets, traders are increasingly relying on APIs to fetch accurate and timely data. This blog post will explore how to get Iron Ore (IRON) prices using the Metals-API, its capabilities, and how it can empower developers to build innovative trading applications.

Metals-API Information

About Iron Ore (IRON)

Iron Ore is a fundamental raw material used in steel production, making it a critical component in various industries, including construction and manufacturing. As the demand for steel continues to rise, understanding the market dynamics of Iron Ore becomes increasingly important. The digital transformation in metal markets has paved the way for technological innovations that enhance data analytics and insights. By integrating smart technology, traders can leverage real-time data to make strategic decisions.

The future of Iron Ore trading is likely to be shaped by advancements in data analytics, machine learning, and AI. These technologies can provide deeper insights into market trends, price fluctuations, and demand forecasting, allowing traders to stay ahead of the curve.

API Description

The Metals-API is a powerful tool that provides real-time and historical data for various metals, including Iron Ore. This API is designed to empower developers to create next-generation applications that can analyze and visualize metal prices effectively. With its comprehensive data offerings, the Metals-API enables traders to access critical information that can influence their trading strategies.

One of the key features of the Metals-API is its ability to deliver real-time exchange rate data. Depending on your subscription plan, the API can update this data every 60 minutes or even every 10 minutes, ensuring that you have the most current information at your fingertips. This capability is essential for traders who need to react quickly to market changes.

Key Features and Endpoints

The Metals-API offers a variety of endpoints that cater to different trading needs. Here’s a detailed look at some of the key features:

Latest Rates Endpoint

The Latest Rates Endpoint provides real-time exchange rate data for Iron Ore and other metals. This endpoint is crucial for traders who need to monitor price changes continuously. The response includes the current rates relative to USD, allowing for easy comparisons and analysis.

{
    "success": true,
    "timestamp": 1749013390,
    "base": "USD",
    "date": "2025-06-04",
    "rates": {
        "IRON": 0.000482,
        "XAU": 0.000482,
        "XAG": 0.03815
    },
    "unit": "per troy ounce"
}

Historical Rates Endpoint

For traders looking to analyze past performance, the Historical Rates Endpoint allows access to historical rates dating back to 2019. This feature is invaluable for conducting trend analysis and understanding market behavior over time.

{
    "success": true,
    "timestamp": 1748926990,
    "base": "USD",
    "date": "2025-06-03",
    "rates": {
        "IRON": 0.000485,
        "XAU": 0.000485,
        "XAG": 0.03825
    },
    "unit": "per troy ounce"
}

Bid And Ask Endpoint

The Bid and Ask Endpoint is a powerful feature that enables traders to retrieve real-time bid and ask prices for Iron Ore. This information is crucial for making buy and sell decisions, as it provides insights into market liquidity and pricing.

{
    "success": true,
    "timestamp": 1749013390,
    "base": "USD",
    "date": "2025-06-04",
    "rates": {
        "IRON": {
            "bid": 0.000481,
            "ask": 0.000483,
            "spread": 2.0e-6
        }
    },
    "unit": "per troy ounce"
}

Convert Endpoint

The Convert Endpoint allows traders to convert any amount from one metal to another or to/from USD. This feature is particularly useful for those who deal with multiple metals and need to quickly assess their value in different currencies.

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "IRON",
        "amount": 1000
    },
    "info": {
        "timestamp": 1749013390,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

Time-Series Endpoint

The Time-Series Endpoint allows traders to query the API for daily historical rates between two dates of their choice. This feature is essential for analyzing price trends over specific periods and making data-driven decisions.

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-05-28",
    "end_date": "2025-06-04",
    "base": "USD",
    "rates": {
        "2025-05-28": {
            "IRON": 0.000485
        },
        "2025-06-04": {
            "IRON": 0.000482
        }
    },
    "unit": "per troy ounce"
}

Fluctuation Endpoint

The Fluctuation Endpoint provides information about how Iron Ore prices fluctuate on a day-to-day basis. This feature is vital for traders who want to understand market volatility and make informed trading decisions.

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-05-28",
    "end_date": "2025-06-04",
    "base": "USD",
    "rates": {
        "IRON": {
            "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 traders to query the API for the open, high, low, and close prices for Iron Ore over a specific time period. This data is essential for technical analysis and understanding market trends.

{
    "success": true,
    "timestamp": 1749013390,
    "base": "USD",
    "date": "2025-06-04",
    "rates": {
        "IRON": {
            "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 traders who want to analyze long-term trends in Iron Ore prices.

{
    "success": true,
    "timestamp": 1748926990,
    "base": "USD",
    "date": "2025-06-03",
    "rates": {
        "IRON": 0.000485
    },
    "unit": "per troy ounce"
}

API Key and Authentication

Your API Key is a unique identifier that is passed into the API base URL's access_key parameter. This key is essential for authenticating your requests and ensuring that you have access to the data you need. Proper management of your API key is crucial for maintaining security and preventing unauthorized access.

API Response Structure

Exchange rates delivered by the Metals-API are by default relative to USD. All data is returned in a structured JSON format, making it easy to parse and integrate into your applications. Understanding the response structure is vital for developers to effectively utilize the API.

Conclusion

The Metals-API offers a comprehensive suite of features that empower traders to access real-time and historical data for Iron Ore and other metals. By leveraging this API, developers can build innovative applications that provide valuable insights into market trends and price fluctuations. With endpoints for real-time rates, historical data, and conversion capabilities, the Metals-API is an essential tool for any trading application.

For more information on how to implement these features, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a complete list of available metals. By integrating the Metals-API into your trading strategy, you can stay ahead in the competitive world of metal trading.