Hard coal sales in Poland fell 10.4% year on year to 49.5 million mt in the first three quarters of the year, with losses from sales reaching Zloty 1.6 billion ($468.5 million), according to figures released by the Industrial Development Agency Friday.
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In January-September Poland's state-owned mines sold 40.6 million mt of thermal coal, down 11.6% year on year, and 8.9 million mt of coking coal, down 4.7%. Domestic coal sales fell 7.2% to 43.5 million mt, while exports dropped 28% to 6 million mt.
However, there had been an uptick in sales since July, ARP said.
"Since July there's been a gradual growth in sales, which reached 6.3 million mt in September, the highest level so far this year," ARP said in a statement.
The agency said coal stocks had shrunk for the second month in a row in September, at which time there was 8.4 million mt of unsold coal stockpiled. That figure is still 2 million mt higher than the level a year earlier.
The agency said hard coal sales revenues in January-September totalled Zloty 13.8 billion, down Zloty 2.7 billion from the same period in 2013. The costs associated with coal sales in the first three quarters of the year were Zloty 15.4 billion, or Zloty 1.6 billion more than the revenues from sales. Average losses from sales in Q1-Q3 were Zloty 32.76/mt compared to Zloty 0.68/mt in the same period of 2013. In September they fell to Zloty 3.46/mt.