Jastrzębska Spółka Węglowa (JSW) saw its coal production fall in the second quarter of 2026, while average selling prices for coking coal, thermal coal and coke all rose. The Polish mining group attributed the price increases partly to supply disruptions in China after a fatal accident at a mine in Shanxi province.
In the second quarter of 2026, JSW produced 3.23 million tonnes of coal, down 0.3% from the previous quarter and 3.4% lower year on year. Coking coal output reached 2.76 million tonnes, a drop of 0.8% quarter on quarter and 2% year on year. Thermal coal output rose 2.5% quarter on quarter to 0.47 million tonnes but was still 11% below the level recorded in the same period of 2025.
Sales volumes reflected a similar trend. Total coal sales in Q2 2026 stood at 2.97 million tonnes, up 1.1% quarter on quarter but down 0.9% year on year. Coking coal sales fell 3% quarter on quarter and 7.7% year on year, while thermal coal sales jumped 23.3% and 45.8% respectively. Coke production declined 10.9% quarter on quarter and 4.9% year on year to 0.67 million tonnes. Coke sales amounted to 0.69 million tonnes, down 10.7% quarter on quarter and 6.9% year on year.
Price increases driven by chinese supply constraints
The average selling price of coking coal to external customers reached PLN 767.40 per tonne (USD 209.84), up 6.2% from the first quarter and 12.4% higher year on year. Thermal coal prices jumped 31.2% quarter on quarter to PLN 349.62 per tonne. Coke prices increased 7.6% quarter on quarter to PLN 993.58 per tonne (USD 271.69).
– The reduction in domestic supply in China after the accident in Shanxi province, combined with tighter safety inspections, significantly influenced global coking coal prices – said a JSW spokesperson. – This pushed up Chinese imports and helped sustain Australian coal quotes even as Indian buyers retreated from the spot market due to the monsoon season.
JSW noted a divergence in price trends for different coking coal grades. Premium coals enjoyed strong demand, while lower-quality coals faced a different situation. Chinese coke quotations also rose on the back of higher domestic coking coal costs, pulling up prices from other suppliers including Indonesia.
European steel production remains weak
After the first half of 2026, the JSW group had achieved 48.6% of its annual coal production target, including 47.5% of the coking coal plan and 56.1% of the thermal coal plan. The company said that no internal incidents had affected output during the quarter and that production was slightly above the planned level.
Despite the full implementation of CBAM carbon border charges, JSW highlighted the lack of a clear improvement in steel production within the European Union. This factor continues to weigh on demand for coking coal and coke in the region, offsetting some of the positive price signals from Asia.
Źródło: WNP.PL, Fot. Jastrzębska Spółka Węglowa / Dawid Lach
