European coal swaps declined sharply across the curvetoday, tracking global financial markets after the UK votedto leave the EU in a major referendum.Swaps markets opened lower on the day after anovernight ballot count revealed that the UK had voted toleave the EU. The API 2 year-ahead contract opened ataround $54.10/t — some $2.90/t lower than yesterday’ssettlement price — and immediately slumped to an intra-daylow of $53.75. After registering a brief recovery to as high as$55.85/t in liquid trading, it retreated to end at $54.70/t —down by $2.30/t on the day.
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