- RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September
- EXCLUSIVE: 'Noida International Airport at Jewar to be jewel in crown of Indian aviation sector' - Know what all is coming up at
- D-Street Corner: Market gains 2.7% in highly volatile week, investors richer by 5.5 lakh cr; what should investors do on Monday?
- Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August
- Netflix lays off 450 employees in two months—Here's what's bothering OTT giant
Poland's JSW does not expect a fall in coal orders from ArcelorMittal
Poland`s JSW, the European Union`s biggest coking coal producer, does not expect coal orders from major client ArcelorMittal to fall following the steelmaker`s decision to halt operations at its blast furnace and steel plant in Krakow.
ArcelorMittal Poland said on Monday it plans to temporarily stop production its furnace and steel plant in southern Poland in September, citing rising carbon emission costs and surging power prices.
"We do not expect quantity cuts in coal orders from ArcelorMittal," JSW Chief Executive Daniel Ozon told Reuters. "The coke from ArcelorMittal`s coking plant in Poland will be delivered to other steel plants in Europe. I do not see significant risks in relation to ArcelorMittal`s statement yesterday."
Ozon added that he saw some signs of slowdown in the automotive sector but, based on talks with JSW`s clients, assumed that sales volumes should rebound next year.
Shares in JSW were 7.14 percent lower by 1151 GMT.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.