Europe’s largest hard coking coal miner Jastrzebska Spolka Weglowa (JSW) said late Thursday its total coking coal sales in the 2nd quarter dropped 10% year on year to 2.615 million mt thanks to the disposal of its WZK Victoria coking plant.

Colaing coal sales to outside clients were flat at 1.516 million mt, the Polish firm claimed in a presentation of its Q2 results.

Sales to consumers within JSW’s funding group fell 20% year on year to 1.099 million mt many thanks to the sale of WZK Victoria.

JSW claimed its exterior sales took advantage of a 108% year on year increase in the average price of its tough and semi soft coking coal to Zloty 647.62/ mt ($177.81/ mt).

Nevertheless, the business’s unit mining boost 18% to Zloty 293.33/ mt.

The company stated in the first fifty percent of 2017 it marketed 78.6% of its coking coal quantities outside the resources group to domestic consumers and 21.4% to global clients, compared to 71.7% as well as 28.3% respectively in H1 2016.

Coking coal production in Q2 fell 5% year on year to 2.733 million mt, and also it represented 72% of the complete result from JSW’s 5 mines.

Outcome was down due to the disposal of its Krupinski and Jas Mos mines as part of the business’s cost-cutting program.

The Borynia-Zofiowka-Jastrzebie and Pniowek mines produced primarily coking coal with reduced ash, sulfur and also unstable matter material.

The Budryk and Knurow-Szczyglowice mines produced primarily high-vol coking coal with low ash and sulfur web content.

In the coke segment, JSW said its Q2 sales fell 12% year on year to 997,200 mt within when both EU as well as worldwide steel production raised by 4.3% and also 3.8% respectively.

JSW achieved an ordinary coke list prices of Zloty 906.53/ mt, up 68% year on year.

Coke production in Q2 dropped 17% year on year to 870,000 mt. In
Sinopec plans to quickly import 200,000 mt of gasoil on supply tightness accounted for 71.9% of overall coke result and also commercial coke represented 21.7%, JSW said.

The company posted a 12.5% better than expected net revenue of Zloty 566.2 million ($155.3 million) in the 2nd quarter contrasted to a net loss of Zloty 89 million a year earlier.