Teck narrowly misses coal sales target

The company reported first-quarter coal sales of six-million tonnes, slightly below the low-end of its guidance of 6.1-million to 6.5-million tonnes for the first three months of the year. This was owing to the recent CP work stoppage that interrupted rail service to its coal operations in the Elk Valley of British Columbia.

Steelmaking coal prices continued a rally that started in late 2020, with prices breaching all-time highs. Teck realised a first-quarter average steelmaking coal price of $357/t.

Coal prices have reached record levels, resulting in Teck reporting an increase in its first-quarter average realised steelmaking coal price to $357/t.

The miner will post its quarterly financial results on April 27.