Teck Steelmaking coal price guidance issued: volume up—prices slide

Teck Resources is the Kootenay's largest employer and operates 5 steelmaking coal mines in the Elk Valley.

— Photo courtesy Teck

Teck Resources Limited has provided guidance for expected realized steelmaking coal price and an update on estimated sales volumes for the third quarter of 2017.

The third quarter 2017 price index for steelmaking coal volumes sold under quarterly contract on the basis of the average of three assessments for the period June through August, is now established at US$170 per tonne. Teck expects to realize an average price, for all tonnes sold in the quarter, of approximately US$158 to $163 per tonne.

The differential between our expected average realized price and the quarterly index price reflects the historical relationship between realized and benchmark prices, which is a function of our consistent high quality coking coal products delivered to the market.

Steelmaking coal sales volumes for the third quarter of 2017 are now expected to be between 7.2 and 7.5 million tonnes, which is higher than previous guidance of at least 7.0 million tonnes, reflecting strong coal demand in the quarter. Final quarterly sales will depend on timing of shipments.

Teck Resources is the Kootenay's largest employer and operates 5 steelmaking coal mines in the Elk Valley.

(Forward looking statements apply)

About Teck

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 under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.