Do you want to know how to get coal prices the right way? If the answer is yes, you are in luck! Here’s how to do it with an API!
In case you didn’t know, in 2022, the world’s coal consumption rised by 0.7% to 8 billion tons, according to the IEA’s July 2022 Coal Market Update; which is based on current economic and market trends. With the expectation that coal demand will increase even more the following year to a new all-time high, this worldwide total would correspond to the yearly record set in 2013.
Furthermore, China (3.7 billion tons); India (783 million tons), the United States (640 million tons), Indonesia (616 million tons), Australia (550 million tons), and Russia are the top six coal-producing countries in the world (430 million tons). These chart numbers suggest that some traders and investors find coal to be quite fascinating. So, if you are thinking of getting started in this kind of market; you should employ an API for commodities prices that gives you access to the most recent financial exchange data on coal prices.
Why An API Is The Right Way To Obtain Commodities Prices?
The most effective method for getting data on commodities prices without wasting time or effort is to use a JSON API. This is due to the fact that an application programming interface (API) is a piece of software that permits communication between two programs. Which means that you’ll receive a response with the information you asked fairly instantly; if you send an API call requesting specific data!
What’s more, due to its user-friendly interface; on the Internet, there are a ton of APIs that offer information and values for commodities. However, you should exercise extra caution when making your choice; as not all of them are reliable and accurate. As a result, we highly recommend using Commodities-API, one of the most dependable and comprehensive APIs for commodities prices on the market.
Commodities-API offers uptime, expandability, and millisecond response times. Along with Time-Series, Carats, and single value conversion endpoints; Commodities-API now offers live data endpoints. Furthermore, this API makes use of bank-grade 256-bit SSL encryption to protect your connection; making it super secured for your projects.
Numerous small enterprises, huge corporations, and thousands of developers use Commodities-API on a daily basis. Thanks to its trustworthy data sources and six or more years of expertise; this API is the most often used website for commodities prices.
How To Obtain Coal Prices With This API
- First of all, visit Commodities-API to register. Furthermore, picking the plan you wish to use is easy and affordable. Starter, Basic, and Professional are the three plans that are currently offered for this API. After weighing their differences, choose the one that best meets your needs. For instance, if you select the first plan, you won’t pay anything to get hourly commodities updates!
- Then, you will be given a special API key after registering; which you can use each time you make an API call. However, before continuing, your API key must be confirmed.
- After verifying your API key, select the currency in which you want to see your values, then select the commodity symbol you need (in this situation, Coal). Keep in mind that there are 170 different currencies available!
- Finally, make the API call and wait for the answer for a few seconds!
Related post: 3 Stand-out Features Of Commodities Prices APIs You Should Know