Lower Coal Prices to Blame for Teck’s 40 Percent Drop in Q1 Profits

Reuters reported that Teck reported a 40 percent drop in first-quarter profit, blaming lower coal prices.

As quoted in the Reuters report:

Teck warned in February that demand for coal would be soft through at least the first half of 2013. The company said economic uncertainty in Europe and the United States, along with lower growth rates in emerging markets was hitting demand for its products.

To view the whole Reuters report, click here.