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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CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
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Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
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Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
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Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
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CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]