European coal swaps were hauled off intraday lows in late trading after Drummond’s main union claimed yesterday’s workers’ ballot in favour of lifting a strike was invalid. Volumes remained focused on the prompt quarter and calendar 2014. The calendar hit an intraday low of $83/t, down 65 cents/t, this morning, but began to tick steadily higher after it broke through $83.40/t mid-afternoon. By the close the calendar had recovered fully to settle 20 cents/t higher at $83.85/t.
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