JSW certain to post over PLN 100m loss this year – CEO
June 10, 2014
Coking coal miner and coke producer JSW will certainly post a net loss of over PLN 100 million in 2014, CEO Jaroslaw Zagorowski told PAP Polish news agency.
JSW expects benchmark coking coal prices in Q3 to remain flat quarter on quarter.
"Coking coal prices for Q3 may stay at the level recorded in Q2 or edge up," Zagorowski said. "After a preliminary probing of the market, we see that they should not fall."
"We are hoping for a very slow recovery of the market and for it to start as of Q3. In Q4, prices may grow slightly because demand for such resources as coke usually appears after the summer vacation."
The miner will try to compensate for low prices with higher production.