Polands JSW sees Q2 coking coal sales down 10 on year

Europe's largest difficult coking coal miner Jastrzebska Spolka Weglowa (JSW) stated late Thursday its complete coking coal sales in the 2nd quarter dropped 10% year on year to 2.615 million mt many thanks to the disposal of its WZK Victoria coking plant.

Coking ARA coal stocks consistent on week at around 3 million mt. to exterior clients were level at 1.516 million mt, the Polish business said in a presentation of its Q2 outcomes.

Sales to consumers within JSW's capital team dropped 20% year on year to 1.099 million mt many thanks to the sale of WZK Victoria.

JSW stated its outside sales took advantage of a 108% year on year increase in the average price of its tough and also semi soft coking coal to Zloty 647.62/ mt ($177.81/ mt).

However, the company's system mining boost 18% to Zloty 293.33/ mt.

The company claimed in the initial half of 2017 it marketed 78.6% of its coking coal volumes outside the capital group to domestic customers and 21.4% to global clients, compared to 71.7% and 28.3% respectively in H1 2016.

Coking coal production in Q2 dropped 5% year on year to 2.733 million mt, and it made up 72% of the complete result from JSW's 5 mines.

Outcome was down as a result of the disposal of its Krupinski as well as Jas Mos mines as part of the business's cost-cutting program.

The Borynia-Zofiowka-Jastrzebie as well as Pniowek mines generated mainly coking coal with reduced ash, sulfur as well as unpredictable issue content.

The Budryk and Knurow-Szczyglowice mines created mainly high-vol coking coal with low ash and sulfur content.

In the coke section, JSW said its Q2 sales dropped 12% year on year to 997,200 mt within when both EU and also global steel manufacturing raised by 4.3% as well as 3.8% respectively.

JSW achieved a typical coke list prices of Zloty 906.53/ mt, up 68% year on year.

Coke manufacturing in Q2 dropped 17% year on year to 870,000 mt. In H1 2017 blast heating system coke accounted for 71.9% of total coke result as well as commercial coke made up 21.7%, JSW claimed.

The company uploaded a 12.5% far better than anticipated web revenue of Zloty 566.2 million ($155.3 million) in the second quarter contrasted to a net loss of Zloty 89 million a year earlier.