Steel Products Prices North America
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Keystone XL Pipeline Delayed (Again)
Written by Sandy Williams
October 8, 2013
The proposed Keystone XL pipeline from Canada’s oil sand region to the Gulf Coast has been delayed until 2014. In a securities filing, TransCanada said it “no longer expects that the decision on the presidential permit required for the project will be made by year end and the corporation anticipates that its previously disclosed expected in-service date of 2013 will be similarly delayed.” The company applied to the U.S. Department of State in 2012 for the permit that is required to build a cross-border pipeline.
The Keystone XL pipeline will travel 1,179 miles from Hardisty, Alberta to Steel City, Nebraska. The 36” diameter pipeline will have a capacity of 830,000 barrels of oil per day, supporting Canadian producers as well as oil producers from the Bakken region of Montana and North Dakota.
From Steel City, additional TransCanada projects will extend the pipeline to Gulf Coast. In an easterly direction, the Key Stone Pipeline would connect Hardisty with the Midwest ending near Patoka, Illinois. In all, the pipeline will extend nearly 2000 miles providing additional access to oil refineries in the Midwest and along the Gulf Coast.
TransCanada’s $2.3 billion Gulf Coast Pipeline Project is currently underway and is expected to be completed near the end of 2013.
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Sandy Williams
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Nucor inches HR price up, aims for $695/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.
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Nucor maintains $690/ton HR base price
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week at $690/ton.
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CRU: US prices find a bottom as other markets fall
The US sheet market appears to have reached a bottom following consistent weekly declines since April. However, other markets remain weak due to limited demand. Trading in Europe has been slow due to summer holidays. While European mills are also undergoing maintenance outages, these have not been enough to offset ongoing price falls, with weak […]
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Cliffs seeks $700/ton for HR, up $30/ton from last week
Cleveland-Cliffs said on Wednesday that it would seek at least $700 per short ton (st) for hot-rolled (HR) coil. The Cleveland-based steelmaker said it made the move "due to ongoing market developments." The company said the increase was effective immediately for HR orders for September.
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Nucor aims for $675/ton for HR
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.