Coal futures are contracts that allow people to buy or sell coal at a predetermined price at a later date. This means that if you want to buy or sell coal at a certain time in the future, you can do it through a futures contract. This is great for traders because it can help them make money by predicting future prices.
The port of Newcastle is responsible for shipping coal all over the world. It is estimated that approximately 80% of the world’s coal supply passes through this port each year. This port alone exports more than 2 million tons of coal per year, making it one of the most important ports in the world. But how can you get access to these futures? One way is by using an API (application programming interface), or more specifically, a coal prices API.
Benefits Of Using A Coal Prices API For Traders
There are many benefits to using a coal prices API for traders. First, it can help traders get access to information about Newcastle coal futures that they might not otherwise be able to get. This can give them an edge over other traders who don’t have access to this information. Second, it can help automate some processes that would otherwise be done manually. This can save traders time and money. Finally, a coal prices API can help traders integrate Newcastle coal futures data into their systems or applications. This can help them streamline their operations and gain a competitive advantage over other traders.
Now that you know about futures and what coal prices APIs can do for you; we recommend using a reliable coal prices API that might provide you with different sets of pricing data about Newcastle coal futures. A great alternative is the commodities API. With this tool, you will be able to get up-to-date information on coal prices at any time, and also use its services to get access to other asset information.
Commodities API: The Best Way To Get Newcastle Coal Futures
Newcastle coal futures can be obtained quite easily with the commodities API. Additionally, you may use this application to obtain precise pricing data for various assets, including cheese, fuel, and more. This enables people to make informed investment choices based on the extensive data they have access to. All because of the various endpoints it offers, including historical, currency, fluctuation, and more! Similarly, it allows developers to optimize their time and generate more revenue.
Incorporating The Commodities API
To get all these benefits and more, all you have to do is sign up for the commodities API, and you will be ready to start making API calls right away. So enter some basic information about the asset you want to know more about, and then make an API call. In just a few seconds, you will have all the information you need right there, waiting for you.
For instance, we select the “Latest rates” endpoint, “USD” as the base currency, and “COAL” as the symbol (asset to be studied). After making the API call, we got:
{"data":{"success":true,"timestamp":1685320560,"date":"2023-05-29","base":"USD","rates":{"COAL":0.0083507306889353},"unit":{"COAL":"per tonne"}}}According to the answer given above, 0.0083507306889353 tonnes of coal are equivalent to one US dollar.
Truly, there are many benefits to using the commodities API. Overall, you will be able to get all the information about Newcastle Coal Futures that you will need so that you can use it for your business, as a developer, or for yourself as a trader. Do not wait and start making use of this tool!