JSW Falls First Time in Five Days on Weak Coal Prices Outlook

Jastrzebska Spolka Weglowa SA (JSW), the Polish company that’s the European Union’s largest coking coal producer, dropped for the first time in five days as the outlook for coal prices deteriorated.

The stock plunged 2.3 percent to 103.5 zloty, the most in a weak at 12:05 p.m. in Warsaw.

JSW, as the company is known, sees the benchmark price of the coal falling to a range of $210 to $215 a ton in the second quarter from a $235 a ton for the first quarter, Deputy Chief Executive Officer Grzegorz Czornik said at a conference in Warsaw today.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.