New World Resources Drops as Coal Prices Head for 16-Month Low

New World Resources Plc (NWR), the Czech Republic’s biggest supplier of coal to steelmakers, retreated as a benchmark price of the commodity fell toward a 16-month low.

The stock dropped 1.2 percent to 126 koruna by 4:01 p.m. in Prague, poised for its lowest close since April 10.

Coal for next-year delivery fell 0.9 percent to $110.5 a metric ton in the Netherlands, a fifth day of declines and headed for the lowest close since December 2010.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.