If you want to learn how to start with an API to get data about Coal Futures, this article is for you.
A form of coal called Newcastle coal is utilized in the manufacturing of steel and energy. Coke and metallurgical coke are also produced using it. Other names for this kind of coal include steam coal, coking coal, and metallurgical coal. Given that coal is a crucial commodity with a significant impact on the global economy, it is crucial to understand how to get started with Newcastle Coal Futures. Many industries, including manufacturing and electricity generation, employ it.
Start-up options for Newcastle Coal Futures are numerous. Purchasing and selling contracts directly on an exchange is one option. Using a Coal Prices API is an additional option. A set of operations known as an API (application programming interface) enables communication between applications. You can place orders directly over an API for futures trading and obtain real-time futures data from an exchange.
There are many benefits to using an API for futures trading instead of directly trading on an exchange. First, you don’t need to open an account with the exchange or set up any kind of trading account. Second, you don’t need to worry about things like margin trading or liquidity – all of that is handled by the API.
Finally, APIs are often more reliable than traditional exchanges because they are more frequently updated with new features and data.
Now that you know how to get started with Newcastle Coal Futures, we recommend using this API: Commodities API.
Commodities API
As a simple, lightweight Open-Source API for recent and historical commodities rates issued by banks and the stock market, Commodities-API got its start. With a frequency of up to every 60 seconds and a precision of 2 decimal places, this API can give real-time commodity data. offering exchange rates for nearly any commodity, converting between single currencies, offering time-series data, and returning fluctuation data are just a few of the capabilities.
To Use It, Just Adhere To These Steps:
- To use the API right away, all you need to do is sign up at Commodities API!
- Depending on your needs, use the various API endpoints and the symbols the API offers.
- Simply click “run” to initiate the necessary API call after locating the pertinent endpoint, then observe the outcomes appear on your screen.
You can obtain data from a variety of goods using this API. After you submit a certain symbol that the API will supply into the endpoint, it will return a response that resembles this. Every object has a special symbol.
{"data":{"success":true,"timestamp":1684793280,"date":"2023-05-22","base":"USD","rates":{"COAL":0.0083507306889353},"unit":{"COAL":"per tonne"}}}
We needed pricing and data for coal futures on this specific occasion, and this API provided us with the symbol “COAL”. This indicates that 0.0083507306889353 tonnes of coal are equivalent to one US dollar.
The API for Commodities Prices collects data on commodities prices every minute from over 15 dependable data sources. Banks and companies that provide financial data are sources. The same API endpoints can be used to convert any amount between currencies and commodities, as well as between any commodity and any other commodity, and any currency and any other commodity.