The recent CP work stoppage interrupted rail service to the company’s steelmaking coal operations in the Elk Valley in Southeastern British Columbia.
As a result, the realised 1Q22 steelmaking coal sales were 6 million t, slightly below the low end of the previously announced guidance of 6.1 – 6.5 million t. Record steelmaking coal FOB prices resulted in an increase in the average realised steelmaking coal price in 1Q22 to US$357/t. The increase in steelmaking coal prices from 4Q21 further resulted in positive pricing adjustments of approximately CAN$88 million.
Teck’s 1Q22 financial results are scheduled for release on 27 April 2022.
