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  "documentTitle": "Teck Resources (TECK)",
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  "authorName": "David Einhorn",
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  "presentationDate": "2021-05-12 00:00:00",
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  "notes": "The slide includes a specific price assumption for 2022-2023 ($175/Mt) compared to analyst consensus ($150/Mt).",
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      "text": "We assume $175 per metric tonne of met coal for 2022 and 2023, while many analysts assume $150 per metric tonne.",
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      "text": "The met coal market is wonky due to geopolitical tensions, which would be discussed in the 20 minute version of this presentation. More concisely, we can see that like most commodities, met coal has also gone up this year.",
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      "text": "We assume $175 per metric tonne of met coal for 2022 and 2023, while many analysts assume $150 per metric tonne. The entire steel complex has already moved up well above pre-COVID levels, and met coal is likely to follow as we see a global economic recovery and infrastructure investment while supply struggles to keep up.",
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      "text": "Source: Argus Media. Metallurgical coal price reflects the metallurgical coal premium hard low-vol cfr N. China Singapore close.",
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