The world’s largest coal port, known as the Newcastle coal terminal, is located on the coast of New South Wales, Australia. The Newcastle Coal Futures API is a futures contract that is traded on the New York Mercantile Exchange (NYMEX). This contract is based on the price of Newcastle coal that is sold at auction by the Australian government. It is traded in US dollars per metric ton and has a delivery period of 11 months. Commonly, it is used by traders to hedge against price fluctuations in coal in the global market.
Incorporating A Coal Prices API Into Your Business
A coal prices API will allow you to get access to the latest information about the coal futures market and get real-time updates about prices and market trends. This will help you make better decisions when buying and selling coal futures. Consequently this will help you grow your business and increase your profits. If you are already running an energy trading business and want to incorporate a reliable coal prices API, then we recommend you try the commodities API.
More About The Commodities API
The commodities API is a platform that provides real-time pricing information for coal futures contracts and other assets such as wheat, gasoline, and more. The API provides a huge number of endpoints, including fluctuation data, conversion data, historical data endpoints, and more. Each endpoint performs a specific activity. For example, by using the latest rates endpoint, you can obtain the latest pricing data on any commodity.
Since it eliminates the hassle of having to start an API construction process from scratch each time, this API is a great alternative for developers. This coal prices API results are delivered in JSON format. This makes easy its incorporation into active applications or websites. This API is what you need to make smarter judgments regarding your energy trading business.
Incorporate This API Into Your Energy Trading Business
The commodities API is easy to incorporate into your current business. With just a few clicks, you’ll be able to get the latest data on prices and market trends. So first, create a profile on the commodities API website by simply signing up. The next step is to select the base currency, enter the futures symbol for the commodity as an input, and then specify the endpoint. Finally, click “run” to start the API request and wait until you receive the requested data.
For example, when we combined the endpoint “Latest rates,” the base currency “USD,” and the symbol “COAL,” we got the outcomes displayed below:
{"data":{"success":true,"timestamp":1684731600,"date":"2023-05-22","base":"USD","rates":{"COAL":0.0084033613445378},"unit":{"COAL":"per tonne"}}}One US dollar is equivalent to 0.0084033613445378 tons of coal, according to this response.
If you are looking for a coal prices API for your energy trading business, the commodities API is what you need! By using this API, your trading methods for coal or any other commodity can improve. As a result, you can stay on top of market trends and make more informed trading strategy decisions. Its subscription options allow it to receive data updates every 60 seconds and to send up to 100.000 API queries every month. Start using this API today and see how it helps your business grow!