In the fourth quarter of 2022, the Polish producer of coking and power coal Jastrzebska Spolka Weglowa (JSW) reduced the coal production by 2.9% compared to the same period in 2021 – to 3.47 million tons. This is stated in the report on the company’s website.
Compared with the third quarter of 2022, coal production in October-December increased by 1.2%.
Total coke production in the fourth quarter was 680,000 tons, which is 12.8% less quarter-on-quarter and 23.6% year-on-year. Production of coking coal during this period fell by 4.5% q/q and by 0.4% y/y – to 2.76 million tons.
In October-December 2022, JSW sold 3.29 million tons of coal, which is 5.7% less compared to the third quarter and 13.4% less than the same period of 2021. The total coke sales was 750,000 tons (+7.1% q/q and -14.8% y/y). The company’s total coking coal sales amounted to 2.51 million tons (-5.3% q/q, -9.4% y/y).
JSW’s domestic sales in the fourth quarter were 910,000 tons, which is 14.9% less from the third quarter and down 20.2% year-on-year. The average total contract price of coke increased by 10% compared to the previous quarter.
As GMK Center reported earlier, in the third quarter of 2022, net sales of Polish JSW was PLN 2.15 billion ($476.1 million), and EBIDTA was PLN 2.91 billion ($644.4 million). For 9 months, the company’s net revenue amounted to 6.4 billion zlotys ($1.4 billion), compared to a net loss of 62.7 million zlotys ($13.9 million) for the same period in 2021.
According to Tomasz Kudni, JSW’s CEO, the company benefits from cooperation with partners, trade relationships and long-term contracts. These factors made it possible to minimize the negative consequences of a difficult market situation. JSW stabilized its overall coal production and financial results despite the significant impact of rising inflation and energy costs and other factors.
Asian iron ore markets are preparing for an uncertain second quarter. Spot prices for seaborne…
German concern Thyssenkrupp announces that it has reached an agreement to sell 20% of its…
Polish coking coal producer Jastrzebska Spolka Weglowa (JSW) expects coal production in 2024 to remain…
The American steel company Cleveland-Cliffs is still interested in acquiring US Steel or some of…
On April 23, 2024, the Minister of Industry and Construction of Kazakhstan signed an order…
Tata Steel UK has announced that it will continue to implement its plan to shut…