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LONDON: European physical coal prices for delivery in April fell slightly on Tuesday, levelling off a three-week long trend of price gains.
Cargoes for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) traded at $76.25 a tonne, down $0.05 from the previous settlement.
ARA cargoes for delivery in July traded at $77.50 a tonne, according to price data on the globalCOAL platform.
Sources said the losses were a corrective move in reaction to the string of gains seen in the market since Feb. 28.
"I don't think we will see any more upside to prices this week," one said.
A run-up in prices this month had restored profitability to coal miners who were operating below breakeven levels, he added.
South African physical contracts from its Richards Bay terminal for delivery in April settled at $76.25 a tonne, unchanged from Friday levels.
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