Whatever your commodity is, you can find out its prices. There are many commodities all over the world, and it can be difficult to get updated information about each of those.
But, don’t worry! Now you can get them all in the palm of your hand with Commodities Prices API.
So, if you are wondering what are commodities, then let’s start with that! A commodity is a basic good that serves a general purpose and has a wide market. These goods are usually raw and unprocessed.
Commodities have a standard quality, which means that they don’t vary among themselves. And they can be classified into three categories:
Raw Materials: They are the first stage of processing. The example is gold, which is mined from the ground and then processed into gold bars, coins, or dust. Greases, oils, and chemicals: These raw materials may not seem as such, but they are intermediary goods used in the production of other goods. The examples are plastic or petroleum oil.Foods: These products are mostly processed or packaged for consumption. The examples are coffee beans or sugar.
We offer you a new way to get up to date information about your commodities so you can know the value of them at any time. Because we know how hard it can be to work with different prices every day when you work in sales or in any kind of business that needs that information to survive. That’s why we bring you Commodities Prices API.
What are 5 examples of commodities?
Coffee: Coffee is an example as a raw material. It is grown in many parts of the world because of its high demand and low supply. This means that coffee prices can change very quickly depending on supply and demand levels. Also, because it’s a popular drink there is also demand for it as a commodity for trading purposes. Soybeans: As another example, we have soybeans which are used as an ingredient in many foods and drinks. So their supply is controlled to make sure there is enough for the food industry while also enough left over to sell as a commodity on the open market. Copper: Copper is used in many industries because it has many useful properties like being both ductile and electrically conductive at the same time. This makes it useful in many industries like electronics, electrical engineering
Check different Commodity rates with this API. Get the latest price, prices per date, open, close, and much more.