Top Commodity Data APIs for Finance Pros 2024

Looking for the best commodity data APIs? Here's what you need to know:

• Commodity data APIs provide real-time and historical market information
• They help spot trends, manage risks, and identify trading opportunities
• Key features: data coverage, historical depth, geographical reach, update frequency, pricing

Top 5 Commodity Data APIs for 2024:

1. Finnworlds: 20 years of historical data, 5 countries
2. InfoTrie: 60+ commodities, 249 countries, 99% accuracy
3. Tradefeeds: 15 years of data, 4 countries, fast response times
4. RS Metrics MetalSignals™: Aluminum and copper focus, satellite imagery
5. Commodities-API: Wide range, budget-friendly

Quick Comparison:

API	Historical Data	Countries	Key Feature
Finnworlds	20 years	5	Long-term analysis
InfoTrie	12 months	249	Global coverage
Tradefeeds	15 years	4	Fast responses
RS Metrics	8 years	240	Satellite data
Commodities-API	Not specified	Not specified	Cost-effective

When choosing, consider:

• Your data needs
• Geographical coverage
• Commodity focus
• Budget
• Integration ease

New trends:

• AI and machine learning integration
• ESG data inclusion

Pick the API that fits your needs now and can grow with you.

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How to Choose an API

Picking the right commodity data API is crucial. Here's what to focus on:

Current and Past Data

You need both fresh and historical data. Finnworlds offers 20 years of history, while Tradefeeds gives you 15. This depth helps you spot trends and make smart predictions.

Correct and Trustworthy Data

Accuracy is a must. InfoTrie covers 60+ commodities globally with a 99% match rate. That's the kind of precision you want for solid market insights.

Easy Setup and Fast Performance

Look for APIs that integrate smoothly and deliver data quickly. The faster you get data, the quicker you can act in volatile markets.

Cost and Growth Potential

API	Pricing Model	Coverage
InfoTrie	One-off or yearly	60+ commodities
RS Metrics MetalSignals™	From $3,000	240 countries
EOD Historical Data	$79.99/month (All-In-One)	30+ years
Alpha Vantage	Free tier, Premium from $49.99/month	Real-time and historical

Think about your budget and future needs. Some APIs offer flexible pricing, others have fixed rates. Choose one that can grow with you.

Remember: The right API can make or break your financial analysis. Choose wisely!

5 Top Commodity Data APIs

Looking for commodity data APIs in 2024? Here are five solid options:

1. Finnworlds Commodity Prices API

Finnworlds offers a mix of current and historical commodity data:

• 20-year historical data
• Easy to integrate
• Flexible pricing

Great for long-term trend analysis and scalable solutions.

2. InfoTrie Commodity Data

InfoTrie focuses on global reach and accuracy:

• 60+ commodities worldwide
• 99% data accuracy
• Custom data delivery

Perfect for precise, global commodity insights.

3. Tradefeeds Commodity Prices API

Tradefeeds delivers real-time and historical price data:

• 15 years of historical data
• Quick response times
• Secure data handling

Ideal for traders needing fast, reliable price info.

4. RS Metrics MetalSignals™

RS Metrics specializes in metals data:

• Advanced analytics
• 240 countries covered
• Strong data security

Best for firms focused on metals and in-depth analysis.

5. Commodities-API

Commodities-API offers broad coverage at a lower cost:

• Wide range of commodities and currencies
• User-friendly format
• Budget-friendly pricing

Good for smaller firms or those new to commodity data.

API	Key Feature	Best For
Finnworlds	20-year history	Long-term analysis
InfoTrie	99% accuracy	Global insights
Tradefeeds	Fast responses	Real-time trading
RS Metrics	Metal focus	In-depth metals analysis
Commodities-API	Cost-effective	Budget-conscious firms

When picking an API, think about your data needs, commodity focus, and budget. Each API has its strengths to support your financial analysis and decisions.

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API Comparison

Let's compare the top commodity data APIs to help you pick the right one.

Feature Breakdown

API	Data Coverage	Historical Data	Countries	Pricing Model	Unique Feature
Finnworlds	4 main commodity categories	20 years	5	Contact sales	Long-term trend analysis
InfoTrie	60+ commodities	12 months	249	One-off, yearly, usage-based	99% data accuracy
Tradefeeds	Spot and historical prices	15 years	4	Contact sales	Quick response times
RS Metrics MetalSignals™	Aluminum and Copper	8 years	240	Starts at $3,000	Satellite imagery analysis
Commodities-API	Wide range of commodities and currencies	Not specified	Not specified	Budget-friendly	User-friendly format

Each API has its strengths:

• Finnworlds: Best for long-term analysis with 20 years of data.
• InfoTrie: Global reach with high accuracy.
• Tradefeeds: Balances historical data and speed.
• RS Metrics: Focuses on metals using satellite data.
• Commodities-API: Budget-friendly with wide coverage.

Pricing varies. RS Metrics starts at $3,000, while Commodities-API is cheaper. Finnworlds and Tradefeeds require contacting sales.

APIs use different delivery methods: REST (Finnworlds, Tradefeeds) vs Feed (InfoTrie, RS Metrics).

When choosing, consider:

1. Your data needs (historical vs real-time)
2. Geographical coverage
3. Commodity focus
4. Budget
5. Integration with your systems

Keep in mind: Real-time data costs more than end-of-day data. One company paid about $35,000 yearly for North American end-of-day market data, including commodities and futures.

Tips for Picking the Right API

Aligning Features with Needs

When choosing a commodity data API, match its abilities to your job needs:

1. Data Coverage: Does it offer the commodities you need? RS Metrics MetalSignals™ focuses on aluminum and copper.

2. Historical Data: Need long-term analysis? Finnworlds offers 20 years of data, InfoTrie provides 12 months.

3. Geographical Reach: Want global insights? InfoTrie covers 249 countries, Finnworlds covers 5.

4. Update Frequency: For real-time trading, pick APIs with frequent updates. Tradefeeds boasts quick response times.

5. Pricing Model: Match the API's cost to your budget. Commodities-API is budget-friendly, RS Metrics starts at $3,000.

Long-term Usability and Help

Pick an API that can grow with you and offer good support:

1. Scalability: Can it handle increased data needs as your business grows?

2. Support Channels: Look for responsive support teams. Some offer 24/5 support, others 24/7.

3. Documentation: Clear docs help with integration and troubleshooting. Check for code samples and endpoint details.

4. Demo Account: APIs like Tradefeeds offer demo accounts. Test before you commit.

5. Security: Is it regulated by a financial institution? This protects your data and funds.

Remember: The right API fits your needs NOW and can grow WITH you. Don't just pick the cheapest or most feature-packed option. Think long-term.

New Trends in Commodity Data APIs

AI and Machine Learning Use

AI and machine learning are changing how commodity data APIs work. Here's what's happening:

• AI writes API docs automatically
• Machine learning tracks how people use APIs
• AI-powered APIs predict commodity prices
• Machine learning spots weird patterns in data

Josh Gray from ION says:

"Commodity organizations are just now beginning to explore the possibilities that artificial intelligence and machine learning offer their businesses."

Adding ESG Data

ESG factors are now a big deal in commodity pricing. Why? Because:

• Investors want sustainable options
• ESG scores help manage risks
• Governments are pushing for ESG info

Here's what ESG data in commodity APIs looks like:

Data Type	What It Means
Environmental Score	How eco-friendly is it?
Social Score	How well does it treat people?
Governance Score	How well-run is the company?
Overall ESG Score	The big picture

Rick Nelson, CEO of ClearDox, puts it simply:

"It's costing you a lot of money to be inefficient."

Wrap-up

In 2024, finance pros have several top commodity data APIs to pick from:

1. Finnworlds Commodity Prices API: 20 years of data, 5 countries
2. InfoTrie Commodity Data: 60+ commodities, 249 countries, 99% match rate
3. Tradefeeds Commodity Prices API: 15 years of data, 4 countries
4. RS Metrics MetalSignals™: Satellite imagery for aluminum and copper, 8 years of data
5. Commodities-API: Real-time and historical price data

When choosing an API, look at:

• Data coverage
• Update frequency
• Ease of use
• Pricing

Need lots of historical data? Try Finnworlds or Tradefeeds. Want global coverage? InfoTrie's your best bet.

Pricing varies:

API	Pricing Model
Finnworlds	Contact for quote
InfoTrie	One-off, yearly, or usage-based
Tradefeeds	Contact for quote
RS Metrics	Not specified
Commodities-API	Not specified

New trends in commodity data APIs:

• AI and machine learning
• ESG data

These can boost your financial analysis and decision-making.