Canadian mining and mineral developer Teck Resources has reported an update to its coal guidance for the fourth quarter.
In light of ongoing strong spot prices for steelmaking coal, Teck expects its average blended realised price for all of its metallurgical coal products in the fourth quarter of 2016 to be in the range of US$200 – US$205/t.
Teck had previously guided towards an average blended realized price for its highest quality coals and other coal grades below the US$200/t benchmark price reported for the highest quality steelmaking coal, consistent with historical blended realisations for all products.
This guidance implied a blended realised price for all products of approximately US$185. The company’s guidance for sales volume remains unchanged at 6.5 million t.
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