Metallurgical coal production of Canadian miner Teck Resources increased 23% year on year to 12.3 million tonnes in the first half of 2021, the company stated in its quarterly operation report.
Its metallurgical coal sales picked up 16% from last year to 12.4 million tonnes in January-June.
In the second quarter, Teck Resources churned out 6.4 million tonnes of steelmaking coal, up 25% over the year before. Sales went up 24% year on year to 6.2 million tonnes, of which about 2 million tonnes or 32.35% were sold to the Chinese buyers.
China's demand for metallurgical coal was strong in the second quarter on the back of high steel prices domestically. Meanwhile, its demand for imported seaborne coal from non-Australia countries increased due to continuous curbs on Australian coal imports.
China imported 22.28 million tonnes of coking coal in the first half of 2021, tumbling 41.5% over the same period last year, as Australian coal imports fell to zero and Mongolian coal imports remained low on pandemic disruption.
China's coking coal imports from Canada totaled 4.03 million tonnes in the period, jumping 52.9% year on year, with its proportion in China's total coking coal imports rising from 6.9% in H1 2020 to 18.1% in H1 2021.
Affected by the fire accident, Teck Resources cut its Q3 sales guidance for metallurgical coal down by 500,000-800,000 tonnes to 5.7-6.1 million tonnes. The annual production guidance was also slightly revised down from 25.5-26.5 million tonnes to 25-26 million tonnes.
(Writing by Shengnan Liu Editing by Tammy Yang)
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