VANCOUVER (miningweekly.com) – Canadian diversified miner Teck Resources has increased its forecast realised prices for all tonnes of coal sold in the fourth quarter to a range $165/t to $170/t, the Vancouver-based miner said on Tuesday.
The TSX- and NYSE-listed company advised that its realised price for the period is now expected to be 89% of the benchmark price that has been established at $191/t, however, it is still below Teck's average realised prices that usually track around 90% to 95% of the benchmark.
The company explained that the differential between its expected average realised price and the quarterly index price is a function of the market direction, the company’s product mix and the timing of sales and vessel arrivals.
Teck expects 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 its previous guidance of about 6.5-million tonnes.