Would you like to know the prices of commodities? Well… we have excellent news for you! In this article, we will offer you a service that will help you with your problem. It is the best commodities rates API.
Commodities are a diverse group of assets, with different qualities and storage capacities. They can be divided into two categories: “soft” commodities and “hard” commodities. Soft raw materials are those that belong to the agricultural and livestock sectors, which in turn are divided into agricultural goods (from sugar to coffee, through tobacco, soybeans, cocoa, cotton or wheat) and meat. The “hard” raw materials are metals, energy and industrial goods. The word “commodity” derives from the French “commodité”, which means something that is conveniently obtained.
The factors that affect the prices of raw materials can be diverse. Commodities not only follow the relationship between supply and demand, but the price also follows the fluctuations of the US dollar (because prices are usually expressed in this currency, USD) and the geopolitical and economic factors of the producing countries. But natural phenomena also count, which play a decisive role in determining costs, especially in the agricultural sector, and transport costs. There is currently a war between Russia and Ukraine, which affected the price of commodities such as natural gas, for example.
Traditional commodities or raw materials, from agricultural products to metals, oil and natural gas, are traded on commodity exchanges and are directly accessible to investors. However, not all commodity exchanges trade the same commodities. For these reasons, using Commodities-API is an excellent option, since you will be able to keep up to date with the prices of all commodities. If you want more information, we will gladly give it to you.
What is Commodities-API?
If you are looking to find out what the prices of commodities are, you are in the right place! In case you didn’t know, Commodities-API is one of the most important commodity trading tools in the world. Unlike other commodity exchanges, this system collects information on all the world’s commodities such as metals, wheat, corn, oil, ethanol, live cattle, pigs, among other products. This information is obtained thanks to 15 reliable data sources, such as banks and financial institutions, which certify the accuracy of the prices. Plus, all of this is delivered in real time with 2 decimal place accuracy and as often as 60 seconds.
Although the world commodity market works with US dollars, you will see the prices in the currency of your country. This is due to the service’s convertibility system.
To get commodity prices, follow these steps:
1- Visit www.commodities-API.com to generate the API key.
2- Register and choose an available plan. It currently has 3 plans, free, basic and professional. Prices for the latter two plans range from $15 to $50 per month.
3- Find the symbol of the product you want and then, in which currency you want to see the prices.
4- Once selected, make the API call.
5-As a programming language you have the option of using JSON or PHP.
Doubts? questions? Use the virtual chat to communicate with a Commodities-API advisor. Or you can also send an email to [email protected]. Urgent requests are usually handled within minutes.
Also published on Medium.