Are you looking for an API to find the rates of all kinds of commodities? Then today is your lucky day! In the following article, you will find what you are looking for. It is the best commodities rates API.
Generally, commodities are products produced or already existing naturally (with or without processing) in large quantities that have a specific value or utility at a productive and commercial level. The commodity concept refers to those generic, basic products with little differentiation and/or specialization between their different varieties intended for commercial use. For example, corn grown in Mexico is the same as US corn. Both are sold as equal products, always at the same price (international price).
Commodities are divided into two categories. Mineral raw materials are metals or energy resources, extracted from natural sources, such as oil, natural gas, copper, and iron. These resources are finite and once they run out, they can no longer be produced. Instead, agricultural raw materials are those that they obtain through cultivation or breeding. Agricultural raw materials are often seasonal in nature and can be spoiled by poor harvests, droughts or poor quality fertilizers. These products are renewable because they can be grown again (as long as the soil remains fertile).
These commodities are affected by volatility. For example, the war between Russia and Ukraine generated a gas shortage in the European Union, for which the price of this commodity rose. Soybeans are very close to their historical highs, due to the increase in world demand. But also, prices might fall precipitously, as happened on other occasions. For this reason, it is important to have an API to keep up with the latest prices. For this, we will use the Commodities-API API.
Why Commodities-API?
Commodities-API is one of the newest digital tools in the global commodity market. However, having only 6 years of experience, it quickly became the most used API for these purposes. For this reason, thousands of developers, SMEs and large corporations decided to start using it. Some of their clients are very famous companies like Barrick, Metex, Mansour and Injective Protocol, among others. On the other hand, you should know that commodity prices are obtained with a precision of 2 decimal places and these rates can be updated every 60 seconds. This last detail will help you prevent dangerous volatility.
As its name implies, Commodities-API is an API (short for Application Programming Interfaces). An API can facilitate the tasks of a company, making the processes easier, more efficient and automatic. That is, with a few clicks, you can access the main markets in the world.
Finally… this service is free! You can see the prices of the commodity you want, without paying anything! But, the free service has usage limits. If this does not work for you, you could also purchase a monthly payment plan.
Before using Commodities-API, we recommend that you go to the web and read the documentation on how to use this service. If you have any questions, please feel free to contact Commodities-API customer service or email [email protected]