Try out a commodities rates API in a click to create charts for coal prices now!
Coal is a commodity because it’s not differentiated by producers. However, some coal may contain higher or lower sulfur content. Coal is one of the biggest sources of fuel for the U.S. economy since the first half of the twentieth century. After years of low prices and increasing global production and consumption, coal prices reached record highs in 2016.
What Is Coal?
Coal is a fossil fuel formed through the accumulation and preservation of plant matter over many years. It contains a variable amount of carbon and mostly consists of carbon, as well as numerous other elements including sulfur, oxide, chlorine and oxygen. There are two main classifications depending on whether it has undergone extensive processing or not; ‘Anthracite’ and ‘Bituminous’.
-It’s Characteristics:
Coal is important because of its ability to produce large amounts of energy with a relatively small amount of material. This makes it a relatively cheap, clean-burning fuel that is made up mainly of carbon and hydrogen, with a variety of other elements present in small quantities.
– The Market of Coal in the World:
From the economic standpoint, coal has a market that is wide and evident. In this manner, we will quickly see that demand for coal is growing in every region of the world; for example: Europe, North America and Asia are major consumers of this type of energy because they have high production costs.
Coal is the most abundant fossil fuel in the world, it is used for energy generation, heating and as a raw material for various chemical industries. The global coal market is forecast to decline at the rate of -0.7% per year through 2025 due to falling demand from China and India as well as rising prices for domestic energy sources such as gas, oil, wind and solar.
Use Commodities-API!
If you want to query coal prices, the best option is to use Commodities-API. This service allows you to retrieve data from 15 sources, including banks and the world’s main financial centers. Its main feature is its impressive speed; in fact, it is so fast that we can get updated data every 60 seconds with an accuracy of 2 decimal places. In times of economic instability and high volatility, the timeliness of rates helps us save a lot of money. The options include the delivery of exchange rates for almost all commodities, the conversion of individual currencies, the return of time series data and fluctuation data. As additional information, you can also create charts to analyze the information more easily.
To view commodity rates, we recommend following these steps:
-Go to www.commodities-API.com.
-Generate the API key.
-Register with your data and then choose a plan. Currently, Commodities-API has 3 plans: free, basic and professional. Take a close look at the differences between each tariff.
-Next, select the symbol of the commodity you want (e.g. corn, wheat, ethanol, oil) and then select the currency you want to see prices in. There are 170 coins available.
-After the selection, make the API call.
-You have the option to use JSON or PHP as the programming language.
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