Teck ups it guidance for met coal prices in Q4 2016

Teck Resources Ltd. (TSX: TCK.A and TCK.B, NYSE: TCK), Canada’s largest producer of metallurgical coal, said Nov. 23 that in light of ongoing strong spot prices, Teck expects its average blended realized price for all of its steelmaking coal products in the fourth quarter of 2016 to be in the range of US$200 to US$205 per tonne.

Teck had previously guided towards an average blended realized price for its highest quality coals and other coal grades below the US$200 per tonne benchmark price reported for the highest quality steelmaking coal, consistent with historical blended realizations for all products. This guidance implied a blended realized price for all products of approximately US$185. Guidance for sales volume remains unchanged at 6.5 million tonnes.

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange and the New York Stock Exchange.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.