IFSPF - Nutrien Mosaic rise after union rescinds British Columbia port strike notice

2023-07-20 09:55:46 ET

The on-again, off-again strike by dock workers in western Canada that disrupted trade flowing through Vancouver's port is off again, after the union rescinded a 72-hour strike notice following a meeting Wednesday with President Trudeau.

After ending a two-week strike with a mediated settlement, port workers had briefly returned to the picket line after rejecting the deal as insufficient.

Nutrien ( NYSE: NTR ) and Mosaic ( NYSE: MOS ) edge slightly higher in early trading; their Canpotex joint venture had withdrawn new sales offers in preparation for the renewed disruption expected from the strike.

Lumber companies including Canfor ( OTCPK:CFPZF ), West Fraser Timber ( WFG ) and Interfor ( OTCPK:IFSPF ) also opened with small gains; the dispute had forced Canfor to curtail production at its Northwood Pulp Mill in Prince George.

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