Are you tired of commodity prices constantly going up or down? Unfortunately, it is impossible to avoid this but you can anticipate this. If you anticipate, you will avoid losing a lot of money. We will offer you an API that will help you with this. It is the best commodities prices API.
Commodities are goods of a generic or basic nature, also called raw materials or merchandise. These are those products that are found in abundance in nature and that are traded, in addition to being commonly used to make all kinds of final products. A very common classification within the world of commodities is the one that differentiates them into three groups. Minerals or metals such as iron, copper, and aluminum. Agricultural and animals like wheat, rice, live cattle, and lean hog. Energy, they are probably the most demanded today, oil, coal and natural gas are the most important.
Of these commodities, crude oil is by far the most traded commodity in the world. It should not surprise you, considering the high global demand and energy consumption levels of highly industrialized economies, despite efforts to promote the use of renewable energy. And in second place is coffee, with about 10,000 million kilos and an average per person of about 1.3 kilos of coffee per year. However, there are a series of characteristics that are normally implicit in each and every one of the commodities and one of them is volatility.
The price of commodities is historically known for being very volatile, even having variations of up to 30% in an annual period. A bad harvest can cause a shortage of wheat, a drought generates a shortage of rice, and a war can increase the price of metals, among other things. This cannot be avoided, but you can prevent it with Commodities-API.
Why Commodities-API?
Commodities-API is one of the newest and most used digital tools in the global commodity market. In fact, thousands of developers, SMEs, and large corporations use it on a daily basis. Some of their clients are very famous companies like Barrick, Metex, Mansour and Injective Protocol, among others. Thanks to this platform, you will be able to obtain the price of commodities with an accuracy of 2 decimal places and updates every 60 seconds. For example, if a rice shortage occurs, you will be able to update the price once every 60 seconds, thus analyzing the market and preventing volatility. Also, if you wish you can create charts for a better analysis between dates or between commodities.
As its name indicates, Commodities-API is an API (Application Programming Interfaces), and its purpose is to exchange data between different systems, most of the time these data exchanges aim to automate manual processes and/or allow the creation of new functionalities. Capabilities include delivering exchange rates for almost any Commodity, converting single currencies, returning Time-Series data, and fluctuating data.
We recommend that you go to the website and read the documentation about how to use this service. If you have any questions, please feel free to contact Commodities-API customer service or email [email protected]