Do you need to get the live price of coal per ounce using a popular API? Keep reading because you will learn more about coal as a commodity and which is the best API to use.
The International Energy Agency (IEA) predicted on Thursday that due to the sharp increase in gas prices, the world’s demand for coal will increase marginally this year to hit a record high last seen almost ten years ago. According to an IEA assessment on the coal industry, if the Chinese economy grows as predicted in the second half of the year, global coal consumption will increase by 0.7% to 8 billion tons in 2023.
More than 37% of the electricity used worldwide is generated from coal. It is essential for generating energy for transportation, supplying power for homes and businesses, and making steel and concrete. The increasing rise in global energy consumption is one of the issues that the modern world must overcome, and coal is a crucial resource. Compared to other fossil fuels, coal is much less expensive, more widely available, and has more evenly distributed reserves throughout the world.
According to an International Energy Agency (IEA) report, unless the switch to cleaner alternatives accelerates, coal use will reach a record high and remain steady between 2022 and 2025. The International Energy Agency (IEA) anticipates that coal will continue to be by far the greatest single source of CO2 emissions despite the fact that many nations have made aggressive climate commitments, invested extensively in renewable energy, and worked to decarbonize their economy.
Rising natural gas costs, which have led to a rise in gas-to-coal switching in several nations, as well as India’s economic expansion are supporting the world’s coal consumption this year. Due to rising electricity consumption and economic growth in India, demand for coal is anticipated to climb by 7% this year. In the European Union, demand for coal is anticipated to increase by 7% as a result of a decline in Russian pipeline gas exports.
So, if you need to get the live price of coal per ounce using a popular API, we suggest using Commodities API. With Commodities API you will get the price of coal per ounce in just a few seconds. Check it out!
In order to learn how to get the live price of coal per ounce using Commodities API, follow these steps:
-Log in to Commodities API with a new account.
-For the connection, an API Key needs to be generated.
-Choose a product and the price range for it.
-The application will provide an API response in response to a request you make through the gateway.
Concerning Commodities API
For a fee, a service by the name of Commodities-API offers market information for a number of commodities, including coffee, cereal, and oils. They can be purchased by customers through an API, which can be set up with partner banks in under a minute. The website includes easy usage instructions for the API.
Commodities API has been one of the most well-liked solutions among business owners and developers thanks to its user-friendly features and accurate data. It has access to over 170 distinct coin kinds and can retrieve data with a precision of two decimal places.