Polish JSW increased sales and production of coking coal in Q3

Jastrzębska Spółka Węglowa (JSW), Europe’s largest coking coal producer, increased its sales of coal and coke in Q3 2025 despite a series of adverse events that affected production. This is stated in the company’s report.

Total coal production for the period amounted to 3.32 million tons (+8.6% y/y). For the first nine months, this figure amounted to 9.52 million tons.

In July-September, the company increased coking coal production by 2% q-o-q and 14.6% y-o-y – to 2.87 million tons. Its sales during this period amounted to 2.88 million tons, which is 10.1% more than in the second quarter and 17.5% more on an annualized basis. Domestic sales amounted to 1.23 million tons.

Total coal sales in July-September this year amounted to 3.55 million tons, up 18.4% compared to the second quarter and 22.3% year-on-year.

JSW’s coking segment produced 0.89 million tons of products in the third quarter (+9.9% y/y), and sales reached 0.78 million tons (+5.7% year-on-year). Since the beginning of the year, 2.3 million tons of coke have been produced (103.2% of the plan).

Despite the growth in volumes, the company is facing price pressure in the raw materials market. The average selling price of coking coal in the third quarter fell by 4.8% q-o-q and 23.9% y-o-y – to PLN 650.51/t ($178.36/t).

JSW also had operational problems in September, which affected the total volume of coal production. Last month, the figure was 1.07 million tons (83.9% of the monthly PTE indicator). Coking coal production was 84% complete.

The results were affected, among other things, by spontaneous fires at the Budryk and Zofiówka mines, as well as the early closure of some longwalls.

“The market environment remains challenging – restrictions on steel production in Europe, growing protectionism, the expansion of Asian producers, and pressure resulting from the introduction of the CBAM mechanism are negatively affecting prices and demand,” the company said.

It should be recalled that Jastrzębska Spółka Węglowa recorded a net loss of PLN 2.08 billion in the first half of 2025. The decisive factor was the write-off of PLN 648 million in assets due to the January fire at the Knurów-Szczygłowice mine. In addition, the financial result was affected by the fall in world prices for coking coal and unfavorable currency fluctuations.