Would you like to know which are the 3 APIs for expert developers to get coal spot prices in 2023? In this article you will find out more about it and which are the best APIs.
Black or brownish-black sedimentary rock known as coal can be burned to produce power. It mostly consists of carbon and hydrocarbons, which can release energy through combustion (burning). The most common fossil fuel in the US is coal, which is also the world’s greatest energy source for producing power. Coal is a nonrenewable resource since it takes millions of years to develop and there is a finite supply.
According to research from the International Energy Agency, global coal consumption is on track to rise by 1.2% and reach a record high this year. The Russian invasion of Ukraine in February 2022, according to the International Energy Agency (IEA), “sharply altered the dynamics of coal trade, price levels, and supply and demand patterns in 2022,” makes this development particularly volatile and unclear for the world’s energy markets. This year, the cost of fossil fuels increased significantly, according to the agency, “with natural gas exhibiting the greatest increase.”
The IEA predicted that through 2025, the global demand for coal will peak at around 8 billion metric tons but added that “given the current energy crisis with all its uncertainties, a lurch into growth or contraction is likely.” According to Eurostat, Russia was the largest exporter of petroleum products and natural gas to the European Union in 2021. Russian gas exports to the EU have decreased this year, which has prompted the continent’s leading economies to take action to secure supply for the coming winter.
There are some APIs that can be used to obtain helpful data for monitoring coal rates and prices. The greatest APIs for you will be introduced to you today, though!
Commodities-API Its extensive API gives market prices for a variety of goods, such as sugar, wheat, rice, coffee, and coffee beans. Go to the site, obtain an API key, then choose the right currency and commodity to subscribe to the database. The API is limited to that; you can use it whatever you choose.
The Commodities-API may offer content in any currency you choose, to within two decimal places, from a list of over 170 options. Customers can receive data updates every 60 seconds and send up to 10,000 API calls per month.
2. Barchart
One of the earliest companies to offer commodities and futures market data was Barchart, a global banking software company that provides market data and services to the financial, media, and commodities industries.
Although its content suppliers offer internet services, news, and periodicals to financial and commodities professionals to aid in decision-making, Barchart’s specialized data, software, and technology solutions power the operations of its varied customer base from front to admin team.
3. CommoPrices
The prices and values of more than 10,000 commodities and indices can be obtained by users using the CommoPrices API. The data may be updated daily, weekly, or monthly, according to the source. The amount of data made available affects how adaptable a sector is. Fans of commodities should visit www.api.commoprices.com.