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CNN Money reported that weaker Asian coal demand caused a drop in stock prices for some coal miners.
CNN Money reported that weaker Asian coal demand caused a drop in stock prices for some coal miners.
The market news is quoted as saying:
Alpha Natural Resources (ANR) lost 11% of its market cap Wednesday morning after cutting sales estimates for metallurgical coal, which is used in steelmaking. Alpha cited the steep slowdown in Chinese construction activity as the main reason.
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