Skip to content

Unlocking Copper Contracts: Trade Smart

As a result of the global economic crisis, copper prices are at an all-time low. In addition, there is a supply glut as a result of increased mining activity. This article will discuss how to unlock Copper Continuous Contracts in order to trade smart in this market. Copper is one of the most important metals in the world. It is used in a wide range of applications, including electrical wiring and plumbing. In addition, copper has many industrial applications, such as in the manufacturing of electric motors and radiators. As a result, copper is one of the most widely traded commodities in the world.

The digital channels that allow for easy data flow across systems are commodities APIs. They act as the connecting thread in the world of commodities, making it simple for us to get real-time data. Data analysis has entered a new era thanks to APIs, which offer immediate access to a variety of data that was previously hidden away in silos.

Unlocking Copper Contracts: Trade Smart

The price of copper is determined by supply and demand. When demand for copper increases, the price also increases. In contrast, when demand for copper decreases, the price also decreases. Copper futures are an excellent way to trade copper because they allow you to speculate on future price movements. However, you need to know how to unlock Copper Continuous Contracts and trade smartly in order to make money.

These futures are used by traders to speculate on the future price of copper. Copper futures are traded on the COMEX division of the New York Mercantile Exchange (NYMEX). Copper futures have a fixed expiration date that is determined by supply and demand factors. Because these factors can change quickly, the price of copper futures can fluctuate dramatically over short periods of time.

Copper Futures Off-Peak

  • The off-peak contract is used by power companies to buy and sell electricity at off-peak times when demand is low. The off-peak contract is traded on the Intercontinental Exchange (ICE).
  • Off-Peak contracts are based on three different peak periods: peak summer, peak winter and shoulder (spring/fall). Off-peak contracts are typically used by power companies to hedge against rising electricity costs during peak periods.

Commodities API

Unlocking Copper Contracts: Trade Smart

Initially, banks and the stock exchange delivered commodity rates through the Commodities-API, a straightforward, lightweight Open-Source API. With a frequency of up to every 60 seconds and an accuracy of up to 2 decimal places, the API can deliver real-time commodity data. Providing exchange rates for virtually any good, translating between single currencies, providing time-series data, and producing volatility statistics are just a few of the features.

The customer service is available from 10:00 am to 7:00 pm (EST). The customer service team will assist you if you contact them by email or the contact form. The typical response time for urgent requests is a few minutes.

You can access a variety of data by simply passing your unique Access Key as a query argument to one of the 5 primary API Endpoints. An example of the type of answer you would get from the “Latest Rates” endpoint is as follows:

{"data":{"success":true,"timestamp":1694201040,"date":"2023-09-08","base":"USD","rates":{"XCU":4.3057050592034},"unit":{"HG00":"per ounce"}}}

We are able to determine from the response that one dollar is equal to 4.3057050592034 ounces of Copper Continuous Contract (HG00).

The API is used to collect real-time commodity pricing information from more than 15 trustworthy data sources. Banks and providers of financial data are some of the sources. Using the same API endpoints, any quantity can be translated between any two commodities, any two currencies, any two commodities, and any other two commodities.

Published inAd TechAPIAppsApps, technologyArtificial Intelligence (AI)E-commerceTechnologyTools
%d bloggers like this: