Steel Products Prices North America

Keystone XL Pipeline Construction Slated for 2019
Written by Sandy Williams
September 25, 2018
TransCanada plans to begin construction on the Keystone XL pipeline next year now that the State Department has released an environmental review for an alternative route through Nebraska. A report released Friday by the State Department concluded that it is unlikely a pipeline leak would cause major environmental damage due to extensive safeguards put in place by TransCanada.
“Prompt cleanup response would likely be capable of remediating the contaminated soils before the hazardous release reaches groundwater depth,” the report says.
“Keystone XL has undergone years of extensive environmental review by federal and state regulators,” said company spokesman Matthew John. “All of these evaluations show that Keystone XL can be built safely and with minimal impact to the environment.”
The company has already begun mowing areas on the pipeline route, preparing pipeline yards and transporting pipe in Montana and South Dakota, but will hold off construction in Nebraska until after the first half of 2019.
Although the White House has green-lighted the project, environmentalists, Native American tribes and landowner groups still plan to challenge construction of the 1,184-mile pipeline.
When completed, the pipeline will carry 830,000 barrels of crude oil per day from Alberta, Canada, to refineries on the Texas Gulf Coast. TransCanada will spend more than $8 billion on construction of the 36-inch diameter pipeline.
TransCanada says construction of Keystone XL will contribute approximately $3.4 billion to U.S. GDP. Property taxes in the first full year of operations are expected to total about $55.6 million for counties across three states.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America

SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.

Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.