Teck provides metallurgical coal update

7th October 2022 By: Creamer Media Reporter

Toronto-listed Teck Resources said on Thursday that its third-quarter steelmaking coal sales were 5.6-million tonnes, which was within its revised guidance of 5.5-million to 5.9-million tonnes.

The realised steelmaking coal price, however, declined in the quarter, averaging $304/t. This would result in negative provisional pricing adjustments of $191-million in the third quarter.

Teck last month lowered its third-quarter steel sales guidance to reflect the impact of operational halts at its Elkview steelmaking coal hub owing to a structural failure of the plant feed conveyor belt, as well as the labour action at Westshore Terminals.

Prior to this, the miner’s guided range was 5.8-million to 6.2-million tonnes for the quarter.