Do you want to obtain hourly updated coal prices easily and quickly? If the answer is yes, you should use an API!
Coal is a type of geological deposit that is primarily composed of carbon and is highly flammable. It has a black or brownish-black appearance and contains more than 50% carbonaceous material by weight and more than 70% by volume (including inherent moisture). Since it is a commodity, it is composed of plant remnants that have been compacted; hardened, chemically changed, and metamorphosed by pressure and heat over geologic time.
Nowadays, coal-fired power plants burn bituminous coal, subbituminous coal, or lignite. The heat produced by coal combustion is used to convert water into high-pressure steam, which drives a turbine and produces electricity.
Why Should You Invest In Coal?
According to the IEA’s July 2022 Coal Market Update, global coal consumption is expected to rise by 0.7 percent to 8 billion tonnes in 2022, assuming the Chinese economy recovers as anticipated in the second half of the year. This global total would equal the 2013 annual record; and coal demand is expected to rise even further next year to a new all-time high.
Obtain Coal Prices By Using An API For Commodities Prices
An application programming interface, also known as API; is a tool that enables the communication between two different types of programs in order to retrieve specific data. When it comes to a commodities prices API, this tool delivers the most recent prices for a variety of commodities; obtaining the information from various commodity exchanges.
This way, by hiring the service of an API, you can perform a “all in one” rather than hiring the services of two, three, or even more commodity exchanges. In doing so, you’ll save a ton of money and time while obtaining accurate information.
So, if you are looking for a way to get coal price quickly and easily, we suggest you use a trusworthy API like Commodities-API. This one is one of the most efficient JSON APIs available on the Internet. This is because it has more than 6 years of expertice; and offers the most precise information on the market.
How To Obtain Hourly Coal Updates With This API
First, go to www.commodities-API.com and register for an account. In this step you can select the plan you want to use. Commodities-API currently offers three plans: no-paid, basic, and professional. Examine the differences between them and select the one that best meets your requirements. For instance, if you choose the first plan, you’ll receive hourly updates of any commodity.
Second, select the commodity symbol you want (in this case, it would be Coal) and then select the currency in which you want to see your prices. Keep in mind that there are 170 currencies to choose from.
Finally, once you’ve decided, make the API call, and wait a few seconds!
And that’s all you need to do! The rest is up to Commodities-API. In a matter of seconds you’ll receive the information you are looking for!
Related post: Want To Start Investing In Commodities? An API Can Help You!
Also published on Medium.