Would you like easy access to Commodities Prices in JSON Format? Well, there is a way to do it! Next, we will introduce you to a free tool that will allow you to obtain commodity prices. It is the best commodities prices API.
When talking about what commodities are, we refer to those tangible materials with which they can be traded or exchanged. They are usually products used as raw material for the manufacture of other more refined products since they are unprocessed and have not gone through a production process. The importance of commodities lies in the fact that they are very valuable components in international trade. Most of these components are natural resources but there are many others that, after being massively demanded, began to be developed generically and became a new commodity for the market.
Some of its main characteristics are the following: Commodities are influenced by external aspects or that are outside the market. For example, droughts, bad harvests, international conflicts, economic blockades, etc. But despite that, they are perceived as profitable and safe investments, because they are essential and essential products and that is why their demand is constant. For a person who wants to trade commodities, you should know that there are two types of markets in which you can trade, the spot market and the futures market.
To get the prices, many commodity exchanges only specialize in some commodities, not all. Therefore, tools such as Commodities-API are important, since their system works with all kinds of products. In addition, it is a free service that works with JSON, which is a format that stores structured information and is mainly used to transfer data between a server and a client.
First of all, you should know that Commodities-API is used by thousands of developers, SMEs, and large organizations, who implement this system to know the prices of different raw materials such as wheat, rice, crude oil, natural gas, and sugar, among others. commodities. It is the most reliable commodity API on the market due to its data sources and more than 6 years of experience. World-renowned companies such as Glencore, Changelly, or Chainlink are frequent clients of this service. If you’re wondering where it gets the information from, it’s thanks to more than 15 companies, such as financial data providers and banks, including the World Bank.
Regarding the price, it should be clarified that the service is free and you can access the prices without paying anything. But, there are also paid plans that have better benefits.
Before creating an account, we recommend that you read the documentation on the website. This will help you understand how this system works and how to use it. But sometimes there is no time for long documents and for that, there is a quick start tool, so you can test all the API endpoints with the click of a button.
Finally, the connection to this website is very secure. Commodities-API is encrypted using bank-grade 256-bit SSL encryption. This means that it uses the bank’s security system.
Also published on Medium.