Teck Updates Steelmaking Coal Guidance
Wednesday, December 6th, 2017
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided updated guidance for expected realized steelmaking coal price and an update on estimated sales volumes for the fourth quarter of 2017.
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 realize an average price, for all tonnes sold in the quarter, of approximately US$165 to $170 per tonne.
The differential between our expected average realized price and the quarterly index price is a function of the market direction, our product mix and the timing of sales and vessel arrivals. As previously announced, we expect to return to a more typical product mix of premium steelmaking coal going into 2018.
Steelmaking coal sales volumes for the fourth quarter of 2017 remain in line with our previous guidance of approximately 6.5 million tonnes.http://www.teck.com