JSW shares hit 600-session high amid coal price recovery

Shares of Jastrzębska Spółka Węglowa (JSW) have reached their highest levels in over 600 trading sessions, rising approximately 57% since the beginning of July. As of September 7, 2026, the share price reached 37 PLN.

Several factors are driving this rally. A significant contributor is the recovery in the coking coal market; the price for October futures on Australian coking coal rose by 26.4% between August 5 and September 4. As the largest producer of coking coal in the European Union, JSW stands to benefit from improved commodity prices.

Additionally, the company is undergoing a restructuring process aimed at reducing costs, including a workforce reduction program. So far, over 2,000 employees have utilized mining leave, with more expected to take severance packages. Investor sentiment has also been bolstered by the closing of short positions and the return of the Norwegian Government Pension Fund Global as a shareholder.