Teck Resources Misses Q3 Steelmaking Coal Guidance

Teck Resources (TSX: TECK.B) has failed to meet guidance for the third quarter when it comes to steelmaking coal sales.

Steelmaking coal sales amounted to 5.2 million tonnes, falling short of the lower end of guidance by 7.7%. The company had previously indicated that it expected to sell between 5.6 to 6.0 million tonnes during the third quarter.

The shortfall was blamed by the company on a “slower than anticipated supply chain recovery,” which follows a hot season for fires in British Columbia, as well as strikes at the ports and plant challenges. On the latter point, an improvement initiative is said to be underway, with results improving in the current quarter.

READ: India’s JSW Steel Eyes Valuable Stake in Teck Resources’ Coal Unit for Expansion Drive

The realized steelmaking coal price during the third quarter meanwhile average US$229 per tonne, a 13.3% decline from the US$264 per tonne realized in the second quarter, and 18.8% down from the US$282 per tonne experienced in Q1.

Teck Resources Class B shares last traded at $53.15 on the TSX.


Information for this briefing was found via Teck Resources and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Carney Requires Teck Buyer Must Relocate HQ To Canada

Canada has set a hard approval condition for any takeover of Teck Resources (TSX: TECK.B):...

Tuesday, September 16, 2025, 12:53:00 PM

Teck Resources Sees Earnings Fall In Q1 Ahead Of Shareholder Vote

Teck Resources (TSX: TECK.B) saw its revenues fall on a year over year basis in...

Wednesday, April 26, 2023, 08:54:00 AM

Teck Resources Falls Short Of Q1 Steelmaking Coal Guidance

Teck Resources (TSX: TECK.B) appears to be handling its operations in British Columbia well despite...

Monday, April 11, 2022, 08:36:21 AM

Teck Resources Sees Copper Production Grow 50% In 2024, Provides 2025 Guidance

Teck Resources (TSX: TECK.B) this morning released its fourth quarter 2024 production results, along with...

Tuesday, January 21, 2025, 09:31:26 AM

Teck Resources To Spend Up To US$3.9 Billion Over Next Four Years On Copper Strategy

Teck Resources (TSX: TECK.B) is focusing its efforts on building out its copper production. The...

Tuesday, November 5, 2024, 08:41:12 AM