There is a rising interest in commodity market and the booming price. In this article, we explain why and tell you how to do it.
Commodities are goods that are produced as raw materials. They are usually used in their natural state or after minimal transformation by industrial production processes. This can include simple processes such as extraction, cleaning, or drying.
But there are also more complex processes such as melting, smelting, and refining. Canada is a good example of this. The country produces vast quantities of gold, silver, coal, iron ore, natural gas, and other minerals extracted from its soil.
The primary commodities are raw materials used in the production of other goods. They play an important role in the development of industrialization in many countries because they have to be imported to be manufactured into consumer goods. They are also essential for export-oriented economies like Canada’s; the commodities represent one of the main pillars of their economy.
The most common examples are livestock like cattle and sheep; food such as coffee; wood products like lumber; and minerals like crude oil and precious metals like gold and silver.The most important component of a commodity is its price; it’s frequently referred to as the commodity rate. This can be found in specialized media such as Bloomberg or Reuters. However, these services usually require paid subscriptions to access all the data; that’s why many people look for less expensive options through APIs. And this is where we come in with our new commodity API!
Use An API To Check Commodity Rates!
An API stands for “Application Programming Interface”, which is an interface between two applications; it allows them to exchange data or use each other’s functionalities. These types of interfaces are widely used by computer systems to exchange data with other systems or services; this way you can use the functionalities of another system without programming it directly into your own system. This is exactly what APIs do; they provide you with data from another service or application without having to deal with it directly!
This means that if you want to get to know more about commodity prices, you don’t have to pay for specialized media services; you can use our API to get all that information for free! You just need an internet connection, a computer; a few seconds, and an API key!
What’s An API Key?
It’s a string of letters and numbers that is given
Check different Commodity rates with this API. Get the latest price, prices per date, open, close, and much more.
To make use of it, you must first:
1- Go to Commodities API and simply click on the button “Subscribe for free” to start using the API.
2- After signing up in Zyla API Hub, you’ll be given your personal API key. Using this one-of-a-kind combination of numbers and letters, you’ll be able to use, connect, and manage APIs!
3- Employ the different API endpoints depending on what you are looking for.
4- Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.