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

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April 19 (Bloomberg) -- New World Resources Plc, 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

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