Teck Resources Ltd (Teck) has provided updated guidance for expected realised steelmaking coal price and an update on estimated sales volumes for 4Q17.
The fourth quarter 2017 price index for steelmaking coal volumes sold under quarterly contract on the basis of the average of three assessments for the period September through November, is now established at US$191 per tonne. Teck expects to realise an average price for all tonnes sold in the quarter of approximately US$165 –US$170 per tonne.
The differential between their expected average realised price and the quarterly index price is a function of the market direction, their product mix and the timing of sales and vessel arrivals. According to Teck, they expect to return to a more typical product mix of premium steelmaking coal going into 2018.
According to the company, steelmaking coal sales volumes for 4Q17 remain in line with their previous guidance of approximately 6.5 million t.
Read the article online at: https://www.worldcoal.com/coal/22122017/teck-resources-updates-steelmaking-coal-figures-for-4q17/