News
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Algoma Steel pauses exports of steel from Canada to US, CEO says
By Divya Rajagopal TORONTO, March 12 (Reuters) - Algoma Steel ASTL.TO has paused exports of steel from Canada to the United States until Thursday, when Canadian ministers are expected to meet their U.S. counterparts in Washington, CEO Michael Garcia said.Tariffs on U.S. steel will give Algoma an ...Reuters
Wed, Mar 12
Tariffs make pork business more complicated, Smithfield Foods CEO says
By Tom Polansek CHICAGO, March 12 (Reuters) - Tariffs make it more complicated for Smithfield Foods SFD.O, the biggest U.S. pork processor, to sell all parts of a pig, CEO Shane Smith said on Wednesday. U.S. President Donald Trump roiled agricultural markets by announcing tariffs last wee...Reuters
Wed, Mar 12
Egypt to cut fuel subsidies to cost recovery level by December, IMF says
CAIRO, March 12 (Reuters) - Egypt remains committed to lowering its energy subsidies to reach cost recovery by December as it works to reduce a wide current account deficit, the International Monetary Fund said on Wednesday. Ivanna Hollar, the IMF mission chief for Egypt, told reporters the commitme...Reuters
Wed, Mar 12
Oil stocks in US Strategic Petroleum Reserve climb to highest since November 2022, EIA says
NEW YORK, March 12 (Reuters) - Crude stocks in the U.S. Strategic Petroleum Reserve rose to 395.6 million barrels last week, the highest level since November 2022, data from the U.S. Energy Information Administration (EIA) showed.Crude stocks in the government's emergency reserve rose by 275,000...Reuters
Wed, Mar 12
Barrick must pay dealmaker Hannam $2 million over Randgold merger, UK court rules
LONDON, March 12 (Reuters) - Canada's Barrick Gold ABX.TO must pay British dealmaker Ian Hannam's firm $2 million plus expenses for his work on the acquisition of gold miner Randgold Resources, London's High Court ruled on Wednesday.Hannam was formerly one of JPMorgan's top rainmaker...Reuters
Wed, Mar 12
Brazil egg exports soar amid stronger U.S. demand
By Ana ManoSAO PAULO, March 12 (Reuters) - Brazilian egg exports, including fresh and processed products, increased by 57.5% in February, the Brazilian Animal Protein Association (ABPA) said on Wednesday, citing stronger U.S. demand. In total, 2,527 tons were shipped in the second month of the year,...Reuters
Wed, Mar 12
Mexican president says will wait before responding to US metals tariffs
MEXICO CITY, March 12 (Reuters) - Mexico's President Claudia Sheinbaum on Wednesday said her government will wait for a possible resolution in coming weeks instead of responding to U.S. tariffs on foreign supplies of steel and aluminum that came into force earlier that day."We will wait unti...Reuters
Wed, Mar 12
US aluminium, steel prices hover near peaks as tariffs kick in
By Eric Onstad LONDON, March 12 (Reuters) - The cost of aluminium and steel in the United States hovered near recent peaks on Wednesday after U.S. tariffs of 25% took effect and sparked retaliation from Canada and Europe.Traders have been ratcheting up U.S. prices of the widely used industrial me...Reuters
Wed, Mar 12
CANADA RESEARCH ROUNDUP-Cameco, Labrador Iron Ore Royalty, Nexgen Energy
March 12 (Reuters) - Securities analysts revised their ratings and price targets on several Canadian companies, including Cameco, Labrador Iron Ore Royalty and Nexgen Energy on Wednesday.HIGHLIGHTS * Cameco Corp CCO.TO: Stifel initiates coverage with buy rating* Enghouse Systems Ltd ENGH.TO: C...Reuters
Wed, Mar 12
US tariffs could dampen Italian and EU economies, Italy minister says
ROME, March 12 (Reuters) - Trade tariffs announced the by U.S. administration could hurt both the Italian and the European Union economies, Italy's Economy Minister Giancarlo Giorgetti said on Wednesday.U.S. President Donald Trump's increased tariffs on all steel and aluminum imports took ef...Reuters
Wed, Mar 12
COLUMN-Bad news for American beer drinkers as aluminium tariffs kick in: Andy Home
By Andy Home LONDON, March 12 (Reuters) - First some good news for U.S. aluminium buyers. President Donald Trump has backed off from his threat to hit imports of Canadian metal with a huge 50% tariff. Now for the bad news. As of today they will be paying a 25% import tariff, not just for Canadian...Reuters
Wed, Mar 12
Algoma Steel CEO says pauses exports of steel from Canada to US
TORONTO, March 12 (Reuters) - Canadian steel producer Algoma Steel ASTL.TO has paused exports of steel from Canada to the United States until Thursday, when Canadian ministers are expected to meet their U.S. counterparts in Washington, the company's CEO Michael Garcia said.TariffS on U.S. steel ...Reuters
Wed, Mar 12
Majority of jet fuel cargo on Stena Immaculate involved in collision not leaking - ship owner
LONDON, March 12 (Reuters) - The majority of the cargo jet fuel onboard the US-flagged tanker Stena Immaculate, which was hit by a container ship in a collision off Britain’s coast, remains intact and is not leaking, the vessel's owner Stena Bulk said on Wednesday. "(There's) no fire any...Reuters
Wed, Mar 12
CERAWEEK-Freeport LNG says expects demand to continue to exceed forecasts
HOUSTON, March 12 (Reuters) - Freeport LNG CEO and founder Michael Smith said on Wednesday he expects world demand for the super-cooled fuel to continue to exceed industry forecasts."We've been selling every molecule we produce because demand exceeded the forecast. And I see the same thing h...Reuters
Wed, Mar 12
Trump's tariffs on steel, aluminum to raise costs for US energy firms, experts say
Tariffs to increase costs for oilfield services companiesImports of steel-dependant drilling tools from Canada, Mexico rise amid tariff concernsSmaller producers face higher costs due to tariff impactBy Vallari Srivastava March 12 (Reuters) - U.S. tariffs on steel and aluminum imports are poised...Reuters
Wed, Mar 12
Black Sea CPC Blend oil loadings rose 24% in February from January, sources, Reuters calculations show
MOSCOW, March 12 (Reuters) - CPC Blend oil loadings from the Caspian Pipeline Consortium (CPC) Black Sea terminal rose by some 24% in February from January to 1.68 million barrels per day (bpd), Reuters calculations showed.Total loadings from the terminal near Russia's port of Novorossiisk rose ...Reuters
Wed, Mar 12
Smithfield Foods sees China as best US offal market despite tariffs, CEO says
CHICAGO, March 12 (Reuters) - Smithfield Foods SFD.O, the biggest U.S. pork processor, believes China will remain the best market for U.S. offal products even with increased trade tariffs, CEO Shane Smith said at an investor event on Wednesday. China retaliated last week against U.S. tariffs with hi...Reuters
Wed, Mar 12
US Commerce chief says nothing will stop metals tariffs, will add copper protections
WASHINGTON, March 12 (Reuters) - U.S. Commerce Secretary Howard Lutnick said nothing would stop President Donald Trump's expanded 25% tariffs on steel and aluminum until U.S. domestic production is strengthened, and that Trump will add copper to his trade protections.Lutnick also told Fox Busine...Reuters
Wed, Mar 12
