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Mar 9, 2018

Teck cuts Q1 steelmaking coal sales volume outlook

High commodity prices buoy Teck Resources' shares

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Teck Resources Ltd (TECKb.TO) on Friday cut its current-quarter forecast for steelmaking coal sales volumes.

Teck said it now expects sales volumes of steelmaking coal to be about 6 million tonnes in the first quarter, compared with its previous forecast of 6.3 million to 6.5 million tonnes.

Teck, the world's second-biggest exporter of steelmaking coal, said sales continued to be affected by logistics issues and "poor performance" at Westshore Terminals in Vancouver, British Columbia.

The company also said its coal dryer at Elkview coal mine in British Columbia resumed operations, after being halted following a pressure incident in January.