Did you know that coal is one of the most traded products in the industrial sector? Start investing in this product through a commodities rates API!
Coal is a fossil fuel made up of prehistoric vegetation’s stored energy. It was generated 360 million years ago when swamps and peat bogs were buried owing to shifting in the Earth’s tectonic plates, according to the World Coal Association. Plant debris in the marshes and bogs was subjected to pressure and heat deep underground, causing a chemical reaction that resulted in coal.
Coal is categorised according to its carbon content, which determines how much and what kind of energy it generates. Sub-bituminous coal and bituminous coal are the two types of coal that are most regularly mined. Lignite and anthracite are the other two forms of coal.
According to the IEA’s Coal 2020 study, global coal demand has been declining in recent years, particularly in Europe and the United States. The organization estimates that global coal demand peaked in 2013 (at 8 billion tonnes), and that demand will have flattened to 7.4 billion tonnes by 2025.
Coal’s trajectory has shifted as times and views have evolved, making its future less assured than it once was. “By 2025, renewables will have surpassed coal as the world’s largest source of power.” And by then, natural gas will have surpassed coal as the second-largest source of primary energy after oil,” said Keisuke Sadamori, head of energy markets at the International Energy Agency.
One of the primary reasons some market experts anticipate coal’s place in the energy mix will decline in the next years and decades is environmental concerns. Both mining coal and using it for electricity are troublesome, with pollution and greenhouse gas emissions being two of the major concerns.
Coal pollution, which is produced by the release of toxins such sulfur dioxide, nitrogen oxides, and mercury, has a negative impact on human and environmental health, while greenhouse gas emissions contribute to global warming. Concerns about climate change are spreading over the world, and opinions regarding coal have shifted in favor of renewable energy sources in many regions.
China (3.7 billion tonnes), India (783 million tonnes), the United States (640 million tonnes), Indonesia (616 million tonnes), Australia (550 million tonnes), and Russia (430 million tonnes) are the top six coal-producing countries in the world. For this chart numbers, some traders are really fascinating with coal so, if you want to invest in coal you should use a platform that gives you updated monetary exchange data, like Commodities-API.
What Is Commodities-API?
It’s a platform that, among other things, sells monetized data on coffee, cereals, and oils. It gets them through an API, which takes less than a minute to set up after financial institutions have agreed to work with it.
Is The Platform Simple To Use?
The advantage of Commodities-API is that it is a highly user-friendly website. Take the following steps to do so:
• Visit the website and sign up for an account.
• Select a trading product and a currency.
• Make an API call from the dashboard; the app will respond with an API response, and you’re ready to go!
Is It An Exact Website?
The Commodities-API gives you access to data in any currency you choose, with two decimal places of precision and more than 170 options. You may also get data updates every 60 seconds and make 100.000 API queries every month.
Is It Possible For Me To Get Access To Previous Data?
You may get data for days, weeks, months, and even years before August 2021 via the Commodities-API platform. To do so, choose “historical rates” from the drop-down box, then enter the date in digital format (YYYY-MM-DD) in the URL.