Are you tired of looking for commodity prices? Wouldn’t it be better to get them faster and easier? Well worry no more, with this impressive API, you will be able to obtain them. In fact, it is the best API for commodity data.
A commodity is defined as any good that is mass-produced by man, or of which there are – vast quantities available in nature, that have value or utility, and a very low level of differentiation or specialization. There is a demand for them in the market, which is what determines the price, and they are traded without qualitative differentiation in purchase and sale operations. It is generally understood that they are raw materials or primary goods, which, based on a minimum standard quality, do not exist a substantial difference between them. This means that the coffee produced in Colombia, for example, is not essentially different from that of Brazil or Vietnam.
However, no oil is extracted and it is automatically ready to be used as fuel. On the contrary, it must go through different processes to be optimal for consumption in vehicles. In general, there is almost always a transformation of raw materials into manufactured or finished products for distribution and consumption. Manufacturing is the activity of the secondary sector of the economy, also called the industrial sector, the manufacturing sector. Depending on the cost of extraction, production and transformation, it will determine the final price of the product. These prices are determined in the stock market, both in the spot market and in the futures market.
For these reasons, we suggest the use of Commodities-API, a platform that will provide you with what you are looking for simply and quickly. If you want more data and details about this digital tool, we will gladly provide it to you.
Why Commodities-API?
Due to the daily use of Commodities-API by hundreds of developers, SMBs, and large organizations, this product has gained tremendous popularity worldwide. The term API (Application Programming Interfaces), which refers to a collection of definitions and protocols used to create and integrate application software and permits communication between two software applications via a set of rules, is the ideal one to describe this product. Its goal is to make it possible for you to swiftly and simply view the prices of commodities. All of this is done with a 60-second update cycle and a precision of two decimal places.
The best part is that this service is free! The cost to view commodity prices is nothing! Yes, there are usage restrictions on the service. You need to use a monthly payment plan if you want to exceed these restrictions.
Where does Commodities-API obtain its data? Is it trustworthy and accurate with regards to price?
That is a resounding “yes” to the questions. It now uses 15 different data sources, which guarantees that the information presented is accurate to the nth degree. Famous businesses including Barrick, Metex, Mansour, Injective Protocol and Chainlink are among its clientele. We advise you to visit its website and review the instructions for using this service. Please feel free to get in touch with Commodities-API customer support by phone or email at [email protected] if you have any inquiries.
Also published on Medium.