Jastrzębska Spółka Węglowa (JSW) reported a 0.3% decline in coal production in the second quarter of 2026 compared with the previous quarter, with total output reaching 3.23 million tonnes. At the same time, prices increased sharply: coking coal rose 6.2% quarter-on-quarter to 767.40 zlotys per tonne, while coke prices climbed 7.6% to 993.58 zlotys per tonne. The company linked the price surge to supply disruptions in China.
Production of coking coal, the company's core product, fell 0.8% quarter-on-quarter to 2.76 million tonnes, while output of thermal coal rose 2.5% to 0.47 million tonnes. Year-on-year, total coal production was down 3.4%. – We did not record any sudden internal events affecting production during the second quarter – said JSW in its operational report.
Total coal sales reached 2.97 million tonnes, up 1.1% quarter-on-quarter, while coking coal sales fell 3% to 2.41 million tonnes. Thermal coal sales jumped 23.3% to 0.56 million tonnes. Coke production fell 10.9% to 0.67 million tonnes, and sales decreased 10.7%.
Prices climb as supply tightens
The average price of coking coal sold to external customers stood at 767.40 zlotys per tonne (209.84 dollars), up 6.2% quarter-on-quarter and 12.4% year-on-year. Thermal coal prices rose even more sharply, increasing 31.2% from the previous quarter to 349.62 zlotys per tonne. Coke prices averaged 993.58 zlotys per tonne, also up 7.6%.
– The global coking coal market was influenced by reduced domestic supply in China after a mine accident in Shanxi province and intensified safety inspections – said JSW. This pushed up Chinese imports and supported Australian coal prices, the company added.
Chinese crisis reshapes market
JSW noted a divergence in price trends for different coal grades. Premium coking coal enjoyed strong demand, while lower-quality coals faced weaker interest. The mine accident in Shanxi also drove up Chinese coke prices, which in turn lifted quotes from other producers, including Indonesia.
The company pointed to the lack of a clear recovery in EU steel production despite the full implementation of CBAM border charges. According to JSW, European steel output remains weak, limiting demand for coking coal and coke from the region.
After the first half of 2026, JSW had achieved 48.6% of its annual coal production target, including 47.5% for coking coal and 56.1% for thermal coal. The company expects the second half to benefit from continued Chinese import demand, though uncertainties around global steel markets persist.
Źródło: WNP.PL, Fot. Jastrzębska Spółka Węglowa / Dawid Lach
