https://www.engineeringnews.co.za

Teck cuts steelmaking coal price forecast

16th June 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Canadian diversified miner Teck Resources has pruned back its forecasted average realised price for steelmaking coal in the second quarter, saying extreme Australian weather has disrupted the market.

The announcement sent Teck’s TSX-listed stock falling nearly 5% in the afternoon session to a low of C$21.36 a share.

Teck now expects its second quarter average realised coal price to be between $160/t and $165/t, falling short of the benchmark price for steelmaking coal sold under quarterly contract that has been established at $190/t.

The Vancouver-headquartered company expects coal sales volumes of between 6.8-million and 7-million tonnes, with the final sales volume dependent on the timing of shipments.

Teck said the differential between the quarterly benchmark price and its average realised price for the second quarter is larger than usual, following steel mills filling their prompt requirements immediately following the Queensland cyclone, resulting in “very few” prime hard coking coal spot sales during the four-week period from mid-April.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 1.076s - 140pq - 2rq
Subscribe Now