UPDATE: Teck Resources Lower in TSX, U.S. As Reduces Q2 Coal Production Guidance
Teck Resources (TCK-B.TO) was lower by 2% at $42.66 on the Toronto Stock Exchange and was also down in the United States by about 3% at US$43.26 after reportedly announcing that as a result of the February earthquake and tsunami in Japan, some of its coal customers have deferred shipments due to reduced steel production requirements and it now expects coal sales in the second quarter at the low end of its previously announced guidance range of 5.5 to 6 million tonnes.
The resource company also said it expects average selling prices for the second quarter of 2011 to be approximately US$270 per tonne compared to its existing guidance of US$280 to US$290 per tonne.
Companies: Teck Resources Ltd.
Price: US$43.26. Price Change: -1.31. Percent Change: -2.9
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