Do you want to know how to use APIs for coal prices on your website? If so, you are in luck! Here are three examples for you!
Commodities are a big part of our lives. They are used for various purposes, from manufacturing to energy production. These commodities can be raw materials or finished goods that are traded on the markets; and their prices change over time due to market volatility. This is why it is important to keep track of them in order to make great financial decisions based on their changes.
Coal is a fuel-grade black or dark-brown rock containing activated carbon that burns quickly and is primarily made up of plant waste. Subsurface seams are where it frequently shows up. More than 36% of the world’s electricity is currently produced by this resource, making it the most abundant energy source. As a matter of fact, close to 25% of the world’s electricity is produced by coal-fired power plants.
Coal prices are expressed in $/tonne and have been increasing since 2010 particularly due to an increase in demand from China (which consumes almost half of all global coal). Also, coal prices vary depending on type of coal and quality – e.g., thermal coal is used mostly for generating electricity while coking coal is used for steel production.
So, with all this in mind it is essential to keep track on this commodity and its changes; and the best of all is that you can do it with the help of an API for commodities prices.
Examples On How To Use Coal Prices APIs In Your Website
- You can integrate commodities prices into your website by using APIs that provide real-time commodity price updates. This way, users will be able to see what the current price is and make their own decision based on that information.
- Also, you’ll be able to keep track on the market volatility. You can use our APIs to get all the commodities prices and keep track on them while they change by the second.
- Additionally, you’ll be able to obtain historical commodities prices. This way your website will display the historical prices of commodities so you and your users will be able to analyze the changes overtime.
Since there are several providers out there, it is best if you choose one who can offer high accuracy and low latency rates for their API service. As a result, we strongly advise using Commodities-API, one of the most dependable and comprehensive APIs currently accessible.
How To Obtain Coal Price With This API
- To begin with, an API key is required in order to access Commdoities-API. Simply create an account at Commodities-API and register to receive one. You can choose the plan you want to utilize throughout this step. Currently, this API offers three plans: no-cost, basic, and professional. After weighing their differences, select the option that best satisfies your requirements. For instance, if you select the first plan, you won’t pay a dime to get hourly commodities updates!
- Your API key must be verified in the next step. Simply enter your bearer token into the authorization header.
- Select the commodity symbol you want, then choose the currency you want to view your pricing in (in this case, coal). There are 170 different currencies accessible, so keep that in mind!
- The last step is to make the API and wait a short while for Commodities-API’s response. Remember that you can use PHP or JSON as a programming language.
Related post: A Practical Deep Learning Approach To APIs For Heating Oil Prices
Also published on Medium.