Coal has been used since ancient times for heating and cooking. It was also used to power steam engines during the Industrial Revolution and, more recently, to fuel ships and locomotives. In addition, coal is used to produce steel and cement, as well as in metallurgy and various industries.
Coal futures are contracts in which buyers and sellers agree to buy or sell a certain amount of coal at a certain price at a specific time in the future. These are usually used by coal companies to hedge their production costs. They can sell their coal futures if they expect the price to fall. This will offset any losses they may incur if the price does fall.
When it comes to accessing Newcastle Coal Futures data, a coal prices API can be very useful. Coal prices APIs can help businesses get real-time data on Newcastle coal futures as well as historical data. This can be very useful for businesses that are interested in investing in Newcastle Coal Futures or for businesses that already invest in Newcastle Coal Futures and want to track their performance. So, if you’re looking for a coal prices API that allows you to access real-time Newcastle Coal Futures data, we recommend using the commodities API.
Commodities API
The commodities API is an API that allows you to access real-time data on different commodities. In the case of Newcastle Coal Futures, it allows you to get access to all the information you need about this commodity, including historical data, fluctuation data, and more. This can be a great way to get an edge on the market and make sure you always make the best decisions. Additionally, it is a great tool for developers, because it is a highly compatible tool that can be integrated into several apps and websites.
Access Real-Time Newcastle Coal Futures Data Using This API
The commodities API has an easy-to-use interface and offers reliable information on demand. With this API, you will be able to get all the information you need about this commodity in just a few clicks. All you need to do is:
- Subscribe to the commodities API
- Make an API call after providing some basic data about the asset about which you want more information. All the information you require will be available to you in a matter of seconds.
For example, in this case, we wanted data on Newcastle Coal Futures, so we selected the “COAL” symbol, followed by the “Latest Rates” endpoint and the “USD” base currency. Following the API call, we received:
{"data":{"success":true,"timestamp":1685323920,"date":"2023-05-29","base":"USD","rates":{"COAL":0.0083507306889353},"unit":{"COAL":"per tonne"}}}The solution provided above indicates that 0.0083507306889353 tonnes of coal are equal to one US dollar.
We have already shown you how to access real-time Newcastle coal futures data using the commodities API. Overall, it is a quite simple process, and a great advantage of this API is that you can track data on other assets. This way, you can make better decisions based on market trends and more accurately predict how prices will change over time. So, start incorporating it into your business and start making better decisions!