Do you want to know why you should use an API to stay updated on coal prices? If so, here are three reasons why!
Raw materials such as coal, oil and wheat are a smart investment, as they are materials that will always be needed and their demand is only increasing as human society develops.
With regard to coal in particular, and according to the IEA’s July 2022 coal market update, global coal consumption is expected to increase by 0.7% to 8 billion tons in 2022. This global total would equal the 2013 annual record; and coal demand is expected to increase further next year to a new all-time high.
However, due to the continuous changes in the market, it is imperative to keep abreast of all new changes. By doing manual research on various stock market websites, you can stay on top of them. But this approach requires a lot of time and work. Not to mention that it is easy to make mistakes because prices are constantly changing. But with the help of an API for commodity prices one can easily get updated coal prices at any time!
Three Reasons Why You Should Use An API For Commodities Prices
- Quick access to up-to-date commodities prices. An API for commodities prices functions quickly; with just an API call you can obtain any commodity price without wasting time searching for it through a variety of financial websites.
- Ease of integration and use. All you need is a computer, a dependable internet connection, and an API provider; nothing needs to be installed. You only need to enter the unit you want to convert, and you’ll have the conversion right away as a JSON answer!
- Accurate Data. In addition, an APIl’s data is always precise and correct; because it commodity data was gathered from several reputable finacial sources by using artificial intelligence and machine learning techniques. Therefore, you won’t have to worry about its accuracy.
Overall, a commodities prices API is a tool that offers the most up-to-date prices for a variety of commodities because it collects data from reliable commodity exchanges. This way, it can be utilized without any problems to receive the most recent data on coal prices!
Thus, if you’re seeking for a quick and simple approach to find the price of coal, we advise using a reliable API like Commodities-API. This one is one of the most effective JSON APIs on the Internet avilable today. This is due to the fact that it has more than 6 years of experience and provides the market’s most accurate information.
How To Obtain Real-Time Coal Prices With This API
- Register at Commodities-API and create an account to obtain an API key. Also, you can choose the plan you want to utilize in this step. Currently, Commodities-API offers three plans: no-cost, basic, and professional. Consider their differences and choose the one that best satisfies your needs. For instance, if you select the first plan, you will get hourly commodities updates without spending a cent!
- Authorize your API key. Simply enter your bearer token into the authorization header.
- Next, choose the currency in which you wish to view your prices, then choose the commodity symbol you want (in this case, coal). Remember that there are 170 different currencies available!
- Finally, once you’ve made your decision, call the API, then wait a few seconds!
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