If you are a company that depends on coal and you want to improve your business strategy, integrating an API for coal prices is the best option!

Coal is extracted from mines and transported to power plants or steel mills. It is used to generate electricity in thermal power plants that burn coal to produce steam, which then turns turbines to generate electricity. In addition, it also uses coal to produce coke, which is used to manufacture iron and steel. The price of coal is based on the quantity of fuel extracted from mines. The price of coal depends on various factors such as the quality of the coal, the distance from the mine to the power plant or steel mill, how much is extracted per hour or day, and how much transportation costs are. 

Thus, we advise using a Coal Prices API if you wish to start using an API to keep track of coal prices. This is a dependable resource that offers precise information on a wide range of goods. This program makes use of artificial intelligence to give you precise price information as well as other information like location, commodity kind, name, and more!

The price of coal fluctuates due to a variety of factors. A key component is supply and demand. Price increases are common as coal demand rises. Prices often rise when a certain commodity or service is in high demand. Changes in geopolitics are another factor that could affect coal pricing. For instance, delays in the mining and shipping of coal may occur as a result of international disputes, which might increase expenses.

The Commodities API is without a doubt your finest option if you’re looking for exact information on coal pricing.

Commodities API

Developers can access up-to-the-minute information on the value of commodities through the Commodities API, which is made available by more than 10 different exchange rate data providers for commodities pricing. The API provides a sizable number of endpoints, each of which serves a distinct function. Using the endpoint, one or more currencies’ time series data, information on daily fluctuations, value conversion, and access to currency-specific data are all made available. It can also send API queries to get the most up-to-date commodity rate data for all or a particular set of currencies.

All You Have To Do To Utilize It Is:

• Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
• Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.

Depending on the commodity you’re looking for, this API will provide you with a variety of replies. In this instance, we’re interested in finding out more about coal. Use the coal symbol (COAL) of the API to learn more about coal:

{"data":{"success":true,"timestamp":1681749720,"date":"2023-04-17","base":"USD","rates":{"COAL":0.0073126142595978},"unit":"per tonne"}}

As you can see from the answer, 0.0073126142595978 tonnes of coal are equal to one dollar.

With a precision of two decimal places, the Commodities API offers data in more than 170 different currencies. You can perform up to 100.000 API requests each month and receive data updates every 60 seconds, depending on the subscription you choose. This API has a seven-day trial period available.