{"id":403475,"date":"2010-03-08T11:32:00","date_gmt":"2010-03-08T16:32:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:404806"},"modified":"2010-03-08T11:32:00","modified_gmt":"2010-03-08T16:32:00","slug":"teck-resources-upgraded-on-japanese-steel-deal","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/403475","title":{"rendered":"Teck Resources upgraded on Japanese steel deal"},"content":{"rendered":"<p>Teck Resources Ltd. was upgraded to Buy from Hold by Canaccord Adams analyst Orest Wowkodaw. He also hiked his price target on the stock to $50 from $43 on higher coking coal price assumptions.<\/p>\n<p>Major steelmakers in Japan <a href=\"http:\/\/www.marketwatch.com\/story\/japanese-steel-companies-agree-to-55-hike-in-coal-price-report-2010-03-07\" >reportedly agreed<\/a> to a 55% price increase for this key manufacturing component for the April-June period. They will pay US$200 per metric ton to the BHP Billiton Mitsubishi Alliance, up from US$129 in the current fiscal year.<\/p>\n<p>Canaccord\u2019s new estimates assume benchmark coal year contract prices of US$213\/t in 2010 (previously US$165\/t), US$200\/t in 2011 (previously US$165\/t), and US$130\/t long-term (previously US$120\/t).<\/p>\n<p>\u201cWhile several operating issues remain a concern (Red Dog permitting, coal production run rate, Andacollo ramp up), the Buy rating is supported by positive near-term coking coal and copper price momentum,\u201d Mr. Wowkodaw told clients. <\/p>\n<p><a href=\"mailto:jratner@nationalpost.com\">Jonathan Ratner<\/a> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=404806\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Teck Resources Ltd. was upgraded to Buy from Hold by Canaccord Adams analyst Orest Wowkodaw. He also hiked his price target on the stock to $50 from $43 on higher coking coal price assumptions. Major steelmakers in Japan reportedly agreed to a 55% price increase for this key manufacturing component for the April-June period. They [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-403475","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/403475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=403475"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/403475\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=403475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=403475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=403475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}