Would you like to be updated with the latest movements of the day in the commodities market? Although you could use a commodity exchange, this would not be the most efficient option, as there is a better way. Would you like to know more about this API for commodity data?
Commodities are goods that have undergone little processing, to which little or no added value has been added; they are found naturally on the planet or are produced in enormous quantities and show little differentiation from each other, but that does not mean they are not in great demand. Some examples of commodities can be soybeans, oil, minerals, natural gas, etc. These elements can be marketed as inputs for different production processes or they can also be marketed electronically without there actually being the delivery of a physical good: in the latter case, they are transactions with a purely financial purpose.
In the markets, there are different types of goods, goods that can be classified according to a variety of different criteria. When referring to the category of “commodities”, reference is made to goods that have similar characteristics to each other. For example, the oil produced in Venezuela will differ little from that produced in Saudi Arabia from a market point of view. The price that commodities acquire is enormously important for developing countries. This circumstance is due to the fact that generally; underdeveloped countries have a production that is largely based on these products.
If you have any industry or business that requires you to be constantly alert about the movements of the commodities market, we will offer you an alternative and that alternative is called Commodities-API. It is a brilliant system, an API that proved to be much more efficient than Commodity exchanges.
Despite being a very young product, Commodities-API quickly gained widespread recognition. If you didn’t know, thousands of developers, SMEs, and big businesses use this service, ensuring the quality of this platform. Famous businesses like Barrick, Metex, Mansour and Injective Protocol are among some of their clientele.
This system is an API (Application Programming Interface), which is a set of definitions and protocols used to develop and integrate application software that permits communication between two software applications through a set of rules. As its name implies, APIs are used to develop and integrate application software. In order to get prices more quickly, this API acts as a conduit between you and the major commodities markets. With a 60-second update cycle and a precision of two decimal places, commodities rates are given. Delivering exchange rates for nearly any commodity, converting between single legal tenders, delivering time-series data, and returning fluctuation data are just a few of the capabilities.
Is Commodities-API an expensive service? How can you pay?
“Surely Commodities-API is an expensive service”. Fortunately, the statement is incorrect. On the contrary, Commodities-API offers prices adapted to each client and each budget. If you need to update the movements of the commodity market very frequently, a professional or professional plus insurance plan will work for you. You can pay with any card from any bank and the payment will be made in USD.
Also published on Medium.