POLISH COAL MARKET MIDWEEK SUMMARY 48/2016

Polish coal producers are trying to take advantage from rising coal prices and decided to quote current contracts with energy sector, often with 10 PLN/Mt more than was agreed. Power producers are furious, but the biggest backstage nagger is French EDF, who is saying that this is revenge for not playing ball with Ministry of Energy.

Still no decision towards Krupinski mine. Last General Assembly was moved for Thursday. As JSW’s Board announced, all 2,100 miners will be relocated to other facilities and will definitely not lose their jobs, but unions are stubborn and decided to fight to the death (or at least – first blood) for mine’s future. Question is: is it just private interests of some union leaders (Krupinski contractors is a bonanza), or someone is playing dirty game on JSW’s stocks?

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