Would you like to acquire information on commodity prices? Although there are many commodities, the truth is that not all commodity exchanges have prices available. Therefore, we recommend you use this API, better known as the best API for commodity data.
Commodities are goods of a generic or basic nature, also called raw materials or merchandise. These are those products that are found in abundance in nature and that are traded, in addition to being commonly used to make all kinds of final products. Some examples of commodities are cocoa, rice or wheat. Although one tends to think that all commodities are food products, the truth is that this is not the case. For example, there are mineral commodities, such as aluminum, copper, iron, steel, which are also traded on the stock exchanges. Another example is energy commodities such as oil, natural gas, and coal, which are currently the most in demand.
Crude oil is by far the most traded commodity in the world. This should not surprise you, considering the high global demand and energy consumption levels of our heavily industrialized economies, despite efforts to promote the use of renewable energy. Coffee is second. Global coffee consumption around the world is around 10,000 million kilos and the average per person is about 1.3 kilos of coffee per year. Natural gas ranks third. After oil, it is the second most used energy source after oil. In the future, this list will change and they will begin to use more friendly fuels for the planet and renewable energies.
To get commodity prices, many turn to commodity exchanges. Unfortunately, each stock market specializes in certain commodities, since as we mentioned before, there are many commodities and every day, a new one appears on the market. For this reason, we suggest that you use the Commodities-API.
Why Commodities-API?
First of all, we should not confuse Commodities-API with a commodity exchange, since they are similar services but also very different. Commodities-API, what it does is provide you with updated prices of many products and guess where it gets the information from… yes, from the commodity exchanges. Instead of contracting the service of 2 or 3 or even more commodity exchanges, by contracting the service of this API you will be able to do an “all in one”. In this way, you will not only save time, but a lot of money.
And speaking of money, it is important to note that this service is not expensive at all. In total there are 3 plans available, of which 1 is an option where you will not have to pay anything. It seems incredible, but it is not. It is a good alternative if you want to test before choosing a monthly payment plan. The other plans are the professional and the professional plus, both with monthly fees that range from 50 to 100 dollars per month. Remember that prices are in US dollars.
If in doubt, go to the website. At the bottom right, you will see an icon with a chat logo. Click there and automatically, a chat will appear so you can talk to a Commodities-API advisor. Otherwise, you can also contact this phone number: +1 (925) 953-2799
Also published on Medium.