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Teck provides steelmaking coal sales and pricing update

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World Coal,

Teck Resources Ltd has provided unaudited 1Q22 steelmaking coal sales volumes and realised prices in light of the impacts of recent logistics disruptions in British Columbia, Canada.

The recent CP work stoppage interrupted rail service to the company’s steelmaking coal operations in the Elk Valley in Southeastern British Columbia.

As a result, the realised 1Q22 steelmaking coal sales were 6 million t, slightly below the low end of the previously announced guidance of 6.1 – 6.5 million t. Record steelmaking coal FOB prices resulted in an increase in the average realised steelmaking coal price in 1Q22 to US$357/t. The increase in steelmaking coal prices from 4Q21 further resulted in positive pricing adjustments of approximately CAN$88 million.

Teck’s 1Q22 financial results are scheduled for release on 27 April 2022.

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Canada coal news