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Teck expects lower steelmaking coal prices in Q4

Teck Resources Ltd. said Dec. 5 that it expects to realize an average steelmaking coal price in the range of US$165 per tonne to US$170 per tonne in the fourth quarter, lower than the US$191-per-tonne benchmark price established for the period September through November.

"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," the company said.

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 remain in line with the previous forecast of 6.5 million tonnes.