Coal is a fossil fuel that is used to produce electricity. It is the most widely used fossil fuel in the world, providing 40% of the world’s electricity. Coal is mined and used to produce electricity, which is used to power homes, businesses, and transportation. It is also used to produce steel and other industrial products. Coal makes up a large part of the world’s energy mix because it is still the cheapest form of energy available. As a result, investments in coal futures are becoming increasingly popular.
Coal futures are contracts that allow you to buy or sell coal at a specific price at a specific date in the future. This allows you to speculate on future coal prices without having to buy or sell any actual coal. The energy trading sector uses Newcastle Coal Futures to trade coal futures contracts on the Chicago Board of Trade (CBOT). Traders utilize these futures contracts to speculate on future coal prices. However, this can be a difficult process to get started with. That’s why we recommend a coal prices API.
A coal futures API allows customers to access data from the CBOT’s Newcastle coal futures market. It permits them to track the fluctuation of coal prices over time. This can be useful for investors looking to track the price of coal over time and make predictions about future prices. It also allows you to compare the price of different types of coal, which can be useful if you are looking to invest in specific types of coal. Developers can then utilize this data to construct programs or websites that allow consumers to track the market or trade futures contracts.
However, not all APIs are created equal; some are easier to use than others, some offer more functionality than others, etc. Therefore, we recommend the commodities API. This tool will help you make successful coal investments in no time at all.
More About The Commodities API
The Commodities API provides real-time data on different commodity prices from more than ten distinct exchange rate data providers. The API has many endpoints, each of which has a specific function. The endpoint allows users to send API queries for time series data for one or more currencies, data on daily changes, value conversion, and data on one or more currencies. Additionally, it can submit API calls for the latest commodity rate for all or a particular group of currencies.
The commodities API is great for developers. It streamlines developers’ tasks instead of starting an API from scratch for their clients. In addition, the commodities API provides data in JSON format, which is accepted by a wide range of well-known computer languages. As a result, it can easily be added to any existing piece of software or website.
How Do You Get Started?
Getting started with this API is as easy as 1-2-3! All you have to do is register on the commodities API page. Next, pick the endpoint, symbols, and base currency that best fit your parameters. Lastly, press “run” to launch the API call. All of the information will be delivered to you in a matter of seconds.
As an illustration, when we used the base currency “USD,” the symbol “COAL,” and the endpoint “Latest rates,” we obtained the following result:
{"data":{"success":true,"timestamp":1683719040,"date":"2023-05-10","base":"USD","rates":{"COAL":0.008},"unit":{"COAL":"per tonne"}}}According to the response, 0.008 tons of coal are equal to one US dollar.
The commodities API is a great place to start when investing in coal or any other commodity! Depending on the subscription you select, you can send up to 100.000 API queries per month and get data updates every 60 seconds. A seven-day trial period is included with this API.