2025-09-09 20:09

SAO PAULO, Sept 9 (Reuters) - Brazilian coffee exports to the United States fell 46% in August while sales to Latin American neighbors surged, coffee exporters group Cecafe reported on Tuesday, even as industry leaders said re-exporting Brazilian beans via third countries was not an alternative for getting past U.S. import tariffs. Despite a drop in total exports to Germany, the European country took the top spot as the biggest importer of Brazilian coffee - accounting for 414,109 60-kilogram bags - in August, while to Mexico and Colombia rose by 90% and 578% respectively to 251,166 and 112,948 bags, Cecafe said. Sign up here. Brazil is the world's largest producer and exporter of coffee, while the United States is the world's largest consumer. President Donald Trump's decision to impose a 50% levy since the start of August on most Brazilian goods, including coffee, has roiled international coffee markets. U.S. imports of Brazilian coffee fell to 301,099 bags, Cecafe said, down from 562,723 in the same month last year. "The tariffs disrupted the market and opened the door to speculative movements," Cecafe President Marcio Ferreira said in a statement. Ferreira told journalists earlier on Tuesday that there was little possibility of re-exporting coffee beans to the United States via third countries. Though some finished coffee products are exported from other countries to the United States, sending raw beans via third countries would be "very easy for the American government to spot," Ferreira said. Tariffs imposed by the United States on Brazilian goods have hit the country's instant coffee industry hard, Aguinaldo Lima, executive director at ABICS, an organization representing Brazil's instant coffee producers, said during the press conference. According to numbers from ABICS, Brazil's instant coffee exports to the United States in August fell 59.9% to 24,460 60-kilogram bags, versus the 65,914 bags exported in the same month last year. "This is detrimental not only to our industries, but also to our trading partners in the United States," Lima said. The U.S. tariffs on Brazilian goods came into effect on Aug. 6. Since then, the International Coffee Organization and Brazil's national crop agency Conab have both warned that the tariffs could push prices higher. With Brazil the world's second-largest coffee consumer, that could begin to impact inflation at home, Celirio Inacio, executive director at the Brazilian coffee industry association (ABIC) said. "Coffee is becoming more expensive for consumers again, and this is causing complaints from consumers and will directly contribute to inflation here in Brazil," Inacio said. https://www.reuters.com/world/americas/brazil-coffee-exports-us-fall-august-surge-elsewhere-industry-says-2025-09-09/

2025-09-09 19:54

Brent, US crude rise 0.6% US assurance to Qatar, fears of supply glut cap oil's gains Oil also supported by smaller-than-expected OPEC+ output hike EIA says oil prices to drop sharply in months ahead on rising inventories NEW YORK, Sept 9 (Reuters) - Oil prices settled higher on Tuesday after the Israeli military said it carried out an attack on Hamas leadership in the Qatari capital Doha, an expansion of its military actions in the Middle East. Brent crude futures settled 37 cents, or 0.6%, higher at $66.39 a barrel, while U.S. West Texas Intermediate crude futures also climbed 37 cents, or 0.6%, to close at $62.63 a barrel. Sign up here. Both benchmarks had gained almost 2% shortly after the Israeli attack on Qatar, but gave up the majority of those gains later as the United States assured Doha that such a thing would not happen again on its soil. "Both the U.S. and Qatar have made it clear they are not seeking further escalation, while the muted reaction from other (Gulf Cooperation Council) members reinforces the view that the risk of a wider regional flare-up remains contained," said Jorge Leon, head of geopolitical analysis at Rystad Energy. "For now, geopolitical risk premiums are easing rather than building," Leon said. Oil prices also pared some gains because the attack did not create any immediate supply disruption, UBS analyst Giovanni Staunovo said. The oil benchmarks were trading higher prior to the attack on Qatar, supported by the latest oil output increase from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling oil and concerns over potential new sanctions against Russia. Capping oil's gains, the U.S. Energy Information Administration said it expects global crude prices to be under significant pressure in the months ahead due to rising inventories. Physical oil markets also appeared to be softening, with prompt spreads weakening heavily in the Atlantic basin, StoneX analyst Alex Hodes said. Softer prompt physical markets are typically an indicator of weak demand. "The fact that the market did not respond with such an escalation (in the Middle East) is an indication of how weak the market is in my opinion," Hodes said. U.S. crude oil inventories rose last week, market sources said, citing a report by the American Petroleum Institute. Official EIA data on U.S. stockpiles is due on Wednesday at 10:30 am ET. Traders are also expecting the Federal Reserve, which meets next week, to cut U.S. interest rates. Lower rates reduce consumer borrowing costs and can boost economic growth and demand for oil. U.S. employment data for the 12 months through March was revised lower more sharply than expected on Tuesday, prompting traders to bet that the Fed will cut short-term rates next week and continue, with more in store this year to shore up the labor market. https://www.reuters.com/business/energy/oil-settles-higher-after-israeli-attack-qatar-2025-09-09/

2025-09-09 19:52

LOS ANGELES, Sept 9 (Reuters) - More than 50 shipping containers fell from a berthed ship into the water at California's Port of Long Beach on Tuesday morning, a spokesman for the nation's second-busiest seaport said. No injuries were reported. Sign up here. The containers fell from the Portugal-flagged Mississippi while it was berthed at the Pier G container terminal. The Mississippi arrived in Long Beach from China's Yantian port. Cargo operations at the terminal were temporarily suspended as crews worked to secure the containers, public information officer Art Marroquin said. The incident is being investigated, Marroquin said. https://www.reuters.com/world/us/dozens-containers-tumble-into-sea-california-port-2025-09-09/

2025-09-09 19:47

WASHINGTON, Sept 9 (Reuters) - The U.S. Federal Aviation Administration issued a safety alert on Tuesday to airlines over risks from lithium batteries in aircraft passenger compartments, citing a large number of serious incidents. The FAA recommended airlines adopt risk mitigation strategies, including clear messaging to address potential fire risks tied to lithium batteries carried by passengers and crew members and review firefighting procedures and training. Sign up here. There have been 50 lithium-ion battery smoke, fire or extreme heat incidents reported this year in the U.S., the FAA said, and some of those have resulted in diversions or injuries. An Aug. 5 incident involved a passenger cell phone on an American Airlines (AAL.O) , opens new tab flight to Madrid from Dallas that overheated and began emitting smoke. The passenger sustained injuries, and there was damage to the aircraft floor and the flight was delayed, the FAA said. During a July 12 flight from Chicago to Portland, Oregon, a passenger’s laptop overheated and began emitting smoke. The laptop was placed in a bag in a bathroom but the flight was diverted to Casper, Wyoming. Others have involved cargo planes with laptops or other batteries in shipments. The FAA last week proposed a $60,000 fine against LG Energy Solution (373220.KS) , opens new tab for allegedly violating the hazardous materials regulations. The FAA cited a January 2024 undeclared and improperly packaged shipment of five lithium-ion batteries from Seoul to Los Angeles. FedEx (FDX.N) , opens new tab personnel discovered the shipment when it emitted flames in its sorting facility in Irvine, California.  https://www.reuters.com/business/aerospace-defense/us-faa-issues-safety-alert-risks-posed-by-passenger-lithium-batteries-planes-2025-09-09/

2025-09-09 19:46

Investors await key US inflation reports this week Fed's dovish policy to lead to dollar's cyclical lows -analyst US rate futures show high chance of rate cut this month US payrolls revisions at -911,000 in April 2024-March 2025 NEW YORK, Sept 9 (Reuters) - The U.S. dollar gained against most currencies on Tuesday except against the yen, recovering from losses the previous session, as investors consolidated positions ahead of key inflation reports this week. U.S. producer price inflation data is due on Wednesday followed by the consumer price inflation reading on Thursday. The data points will be in focus to gauge the impact of tariffs on prices in the world's largest economy. Sign up here. The greenback briefly dropped after a report showing downward revisions of nearly a million fewer jobs to previous government estimates for the April 2024 to March 2025 period. That suggested a far weaker labor market than what initial numbers showed in that 12-month period. But the payrolls data was largely shrugged off. In afternoon trading, the euro fell 0.5% against the dollar to $1.1707 , pushing the dollar index 0.4% higher at 97.78 . Earlier in the session, the dollar index fell to a seven-week low. Against the Swiss franc, the dollar rose 0.6% to 0.7976 franc after earlier hitting a six-week trough. Even though the dollar gained on Tuesday, Elias Haddad, senior markets strategist at Brown Brothers Harriman in London said the big theme right now is that the more recent dovish turn in Federal Reserve policy "will lead to the U.S. dollar to new cyclical lows." "The big reason is that the Fed will now prioritize its maximum employment mandate over price stability because monetary policy is moderately restricted. Any rally, or any relief rally in the U.S. dollar is not sustainable." Tuesday's data on jobs revisions placed that employment mandate in focus. Data from the Bureau of Labor Statistics showed that the payrolls numbers were revised down by 911,000 jobs in the 12 months to March. In previous 12-month period through March 2024, the level of employment was slashed by 598,000 jobs. According to Action Economics, the downward revision was the largest figure on record, topping the -824,000 reading in March of 2009 and the -818,000 figure in March last year. The revision implies job reductions of 76,000 per month for the 12-month time frame. "The only thing growing faster than job-growth skepticism is the pressure on the Federal Reserve to finally sneak in some interest rate cuts because nothing says economic cooling (more than) jobs turning into ghost stories," said Michael Ashley Schulman, chief investment officer at Running Point in El Segundo, California. "Payroll revisions just turned the job story from fairy tale to audit trail ... the biggest reality check in years, which is another way of saying the jobs fairy just clawed back a lot of cheer," he added. Midafternoon on Tuesday, U.S. rate futures priced in a 92% chance of a 25 basis-point cut later this month, and an 8% probability of a 50-bp easing. Elsewhere, sterling fell 0.5% to $1.3521 , while the commodity-linked currencies -- the Australian , New Zealand , and Canadian dollars , all slid against the greenback. Some analysts said a strong U.S. Treasury three-year auction also contributed to the dollar's rally. The auction showed a strong outcome, offsetting the disappointing results from August. The auction priced well and notched record end-user demand, Action Economics analysts said. "Something that might have contributed would have been strong auction behavior today, there's been a pretty consistent rally across the Treasury curve in the last week or so," said Julia Hermann, global market strategist, at New York Life Investments. Later this week, the focus will be on the euro zone, with the European Central Bank widely expected to keep rates unchanged at its policy meeting on Thursday. Economists were split last month on the likelihood of further rate reductions by the ECB, but sentiment has shifted with recent data showing inflation holding close to the 2% target and unemployment at a record low. https://www.reuters.com/world/middle-east/us-dollar-bounces-back-after-sharp-selloff-ahead-inflation-test-2025-09-09/

2025-09-09 19:44

Bahrain first Middle Eastern country to support deep-sea mining Impossible Metals files 170-page application with International Seabed Authority Environmental review process to cost $70 million Company hopes for finalized ISA rules within five years Sept 9 (Reuters) - Bahrain has sponsored deep-sea mining firm Impossible Metals' application for a mining permit with the International Seabed Authority, becoming the first Middle Eastern country to support the fledgling industry as part of an economic diversification push. Privately held Impossible Metals last Friday filed a 170-page application with the Jamaica-based ISA for a permit to mine part of the Pacific Ocean known as the Clarion-Clipperton Zone that contains polymetallic nodules filled with manganese, copper, nickel and other building blocks of electric vehicles and electronics. Sign up here. Any country can allow mining in its territorial waters. The United Nations-backed ISA was authorized by a 1980s treaty to permit and regulate mining in international waters, although it has yet to finalize rules. A company wishing to apply for a permit must have a sponsor country, as Nauru has done with The Metals Co (TMC.O) , opens new tab and Beijing has done for several Chinese companies. Supporters of deep-sea mining say it would lessen the need for land-based mining. Detractors say more research is needed to determine how the practice could affect oceanic ecosystems. California-based Impossible Metals said it has developed a robotic device with a large claw that uses artificial intelligence to reduce environmental impacts. Bahrain, with an economy tied to oil, has not made any financial commitments to Impossible Metals but could potentially fund a metals refinery in the future, the company's CEO, Oliver Gunasekara, said. "What's exciting about Bahrain is that they have capital and they have energy," Gunasekara told Reuters. The ISA said it plans to issue a statement on Wednesday about the company's application. The Bahrain embassy in Washington was not immediately available to comment. The permit process will require the company to conduct a five-year environmental review that will cost the company $70 million, Gunasekara said, adding that he hopes the ISA finalizes deep-sea mining rules within that timeframe. Impossible Metals has also applied for a permit with U.S. officials to mine around American Samoa. https://www.reuters.com/sustainability/land-use-biodiversity/bahrain-sponsors-deep-sea-mining-firm-impossible-metals-international-permit-2025-09-09/