Are you interested in the world of commodities? Would you like to invest in this business? Well, if you are European, you will surely want to obtain the European New Exchange Technology (Euronext) rates. Next, we will tell you more about an API that will help you in this task. It is the best Euronext rates API.
A commodity or raw material is a basic good used in trade that is interchangeable with other goods of the same type, and these are often used as inputs in the production of other goods and services. Traditional examples of commodities include grains, agricultural products, meat, sugar, metals, oil, and natural gas. They form the basis of our economy, because they are necessary for the production of food, energy, and clothing, and they affect the prices of food, clothing, gasoline, transportation prices, jewelry, etc. Commodities are often mass produced and standardized in quality and quantity, meaning they are priced the same regardless of who produced them.
But in general, the price and availability of these commodities are subject to weather, natural disasters, and disease, but can be profitable in the face of population growth and limited food supplies. For example, the war between Ukraine and Russia (and the world’s sanctions on Putin), caused a shortage of natural gas throughout the European Union, generating an increase in prices. Crude Oil, on the other hand, being a limited global supply, is subject to the volatility of its price and the willingness of whoever extracts it to send it.
If you live in Europe, one of the most reliable sources of information is Euronext. This is a group of European stock exchanges derived from the merger of the Paris Stock Exchange, Amsterdam Stock Exchange, Brussels Stock Exchange, Irish Stock Exchange, among others. To obtain the rates of this financial group, we recommend using the API called Commodities-API, the best commodities prices API.
Use Commodities-API!
Commodities-API, as its name indicates, is an API that is based on a set of definitions and protocols that have the purpose of integrating systems and facilitating communication between software applications. It was created to collect information and keep you updated on the prices of a wide variety of commodities, including rubber, rice, coffee, corn, sugar, wheat, lumber, crude oil, etc. In addition, Euronext information is offered with a precision of two decimal places and with updates every 60 seconds.
In fact, it is the most used Commodities API today, thousands of developers, SMEs and large organizations use it. For example, companies like Barrick, Metex, Chainlink, Glencore. Additionally, the same API endpoints are used for currency and commodity price conversions, and they can be used to convert any amount from one currency to another, from one commodity to another, or from any currency to any currency.
Last but not least, the price… If you think that this service will cost you a lot of money, then you are wrong. Commodities-API is free! In other words, you can access Euronext prices without paying anything. But, it is also true that there are paid plans that offer better benefits, which cost between 15 and 50 dollars per month.
We recommend you go to the website and in the “pricing” section you will find the main differences between the free, basic and professional plans.
Also published on Medium.