Teck updates steelmaking coal guidance

Teck Resources Limited has provided guidance for expected realised steelmaking coal price and an update on estimated sales volumes for 3Q17.

The 3Q17 price index for steelmaking coal volumes sold under quarterly contract on the basis of the average of three assessments for the period June through August, is now established at US$170/t. Teck expects to realise an average price, for all tonnes sold in the quarter, of approximately US$158 to US$163/t. The differential between Teck’s expected average realised price and the quarterly index price reflects the historical relationship between realised and benchmark prices, which is a function of the company’s consistent high quality metallurgical coal products delivered to the market.

Steelmaking coal sales volumes for 3Q17 are now expected to be between 7.2 and 7.5 million t, which is higher than previous guidance of at least 7.0 million t, reflecting strong coal demand in the quarter. Final quarterly sales will depend on timing of shipments.

Read the article online at: https://www.worldcoal.com/coal/07092017/teck-updates-steelmaking-coal-guidance/