17:37 30 September 2024
JSW reports heavy losses amid global market challenges
JSW, a key coking coal producer in Europe, faces severe financial challenges due to falling coal prices, oversupply, and competition from cheaper Indonesian and Chinese suppliers.
The company reported an operating loss of PLN 6.835 billion for the first half of 2024, compared to a profit of PLN 2.536 billion a year earlier. The steel market is also struggling, impacting coal demand. To manage the crisis, JSW is analyzing all cost areas, including labor expenses, and considering restructuring to prevent rapid depletion of its financial reserves.
