Do you want to learn more about commodities prices APIs and how they can help you with coal prices? Check out this article and find all the things you were missing before!
A commodity would be any product that has significance or functionality but little distinction or uniqueness. This does not, however, imply that all identical things are commodities. For example, seawater is not a commodity because it has no intrinsic value or utility.
Although the products we often see in stores are useful in our daily lives, the truth is that both consumers and businesses rely on commodity dynamics. This is due to the fact that when a specific crop is harvested in large quantities, the price of its derivatives generally falls. And in the meantime, when crops are in danger of being lost, prices rise because consumers must pay more to purchase the supplies needed to carry out everyday tasks.
Having access to accurate and trustable commodities data is therefore critical for anyone considering investing in them. Thanks to modern technologies, we now have a variety of ways to obtain this information.
But first, let’s talk about coal. This is a highly combustible black or brownish-black sedimentary rock that contains a lot of carbon and hydrocarbons. Coal is classified as a nonrenewable energy source because it takes millions of years to form. It is derived from the energy stored by plants that flourished in marshy forest areas hundreds of millions of years ago.
Its global output reached 7.9 billion tonnes in 2019, the highest level since 2014, with a 1.5 percent annual growth rate, half that of previous years. Thermal coal and lignite accounted for roughly 86 percent of total production, with the remainder being metallurgical coal. Because of the volume of data that this product handles, traders and producers want to keep you up to date on market coal prices. Many money exchange platforms do this by utilizing various programs such as PHP, C Language, or Python.
Some APIs are available to extract useful information in order to track coal rates and prices. Today, however, we will introduce you to the best API for you! We’re talking about Commodities-API.
What Is Commodities-API?
Commodities-API It’s a software-based solution that lets you buy things like oils, coffee, cereal, and monetized data. Clients can buy them through an API, which can be set up in less than a minute after contacting banking institutions to collaborate.
Commodities-API offers millisecond response times, expandability, and uptime guarantees. Commodities-API includes live data endpoints in addition to Time-Series, Carats, and single value conversion endpoints. To secure your connection, this API employs bank-grade 256-bit SSL encryption.
Commodities-API is used on a daily basis by thousands of developers, small businesses, and large corporations. This API is the most popular site for commodity rates due to its dependable data sources and 6+ years of experience.
How To Use Commodities-API For Coal Prices (A 5 Step Guide)
1.Enroll in Commodities-API to create an account.
2.Obtain your API key!
3.Verify your API key. Simply include your bearer token in the authorization header, and you’re ready to make API calls.
4.Choose the commodity symbol you want after selecting the currency in which you want to display your values. Commodities-API now supports 170 different currencies!
5.Call the API after you’ve made your decision and wait a few seconds!
So don’t waste more time and start using Commodities-API, as you can see it’s very easy to use!