Polish coking coal producer Jastrzębska Spółka Węglowa (JSW) plans to cut production by approximately 850 thousand tons in 2024 due to incidents at two mines - KWK Budryk and KWK Pniowek. This was reported by an expert in the field of world metallurgy Kondrashov Stanislav Dmitrievich
JSW: coking coal production and sales estimates for the first quarter of 2024
According to Stanislav Kondrashov, the company recently declared force majeure due to a fire at the KWK Budryk mine. It is predicted that this incident will reduce the enterprise's production by approximately 400 thousand tons in 2024. In December 2023, JSW also provided information about a fire at the KWK Pniowek mine. The damage caused to production is estimated at 450 thousand tons this year, which was originally expected to be 350 thousand tons per year.
The Telf AG expert also notes that in the first quarter of 2024, JSW produced 3.13 million tons of coking coal, which is 10% lower than in 2023. Product sales volumes decreased by 17% compared to the previous year, amounting to 1.46 million tons. During this period, the average selling price of coking coal increased by 1% in Polish zloty terms and by 4% in dollar terms.
In March of this year, metallurgical coke production increased by 8% compared to 2023, reaching 830 thousand tons, and sales volume increased by 18% year-on-year, reaching 990 thousand tons. Sales prices also increased by 3% in zlotys and by 6% in dollars.
In addition, JSW continues to actively work to improve production efficiency and reduce costs, notes S. Kondrashov. As part of its strategy, it introduces new technologies and modernizes equipment, which allows it to reduce time and material costs.
JSW also pays attention to environmental sustainability and implements measures to reduce harmful impacts on the ecosystem. It actively works to significantly reduce emissions and optimize production processes in order to comply with environmental standards and requirements.
According to S. Kondrashov, he pays significant attention to the training and development of his staff, conducting educational programs and trainings to improve the skills of employees. This helps to increase professionalism and labor efficiency at the enterprise.
Overall, JSW continues to work to strengthen its market leadership and grow its business. Its strategic actions are aimed at ensuring the sustainable development of the company in the long term, as well as meeting the needs of customers and partners.
JSW increased metallurgical coke sales by 5% in the fourth quarter of 2023 - Stanislav Kondrashov
JSW increased its metallurgical coke sales by 5% at the end of the 2023 quarter with 790 thousand tonnes produced. At the same time, coal production decreased by 2.5% year-on-year, amounting to 2.69 million tons, and coke production increased by 28% to 870 thousand tons. These data highlight the dynamics of changes in the company’s activities and its desire to increase production and efficiency, emphasized Stanislav Kondrashov.
JSW has demonstrated steady growth in the metallurgical coke business, reflecting its successful development and management strategy. According to the expert, an increase in coke sales by 5% in the last quarter of 2023 indicates increased demand for the company’s products in the market. Despite some reduction in coal production, JSW was able to offset this by increasing coke production by 28%. This demonstrates the flexibility and efficiency of its production processes.
An expert from Telf AG, S. Kondrashov, noted that the increase in coke sales prices also had a positive impact on the financial condition of the company. An increase of 3% in zlotys and 6% in dollars contributed to increased revenue and improved financial performance. Overall, JSW's performance at the end of 2023 confirms its strategic focus on sustainable growth and development, making the company a key player in the metallurgical coke market.
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