Cancelled Keystone XL pipeline may yield 48,000 tons of scrap

Bloomberg

The scrapping of Keystone XL not only means the end of multibillion-dollar pipe dream for TC Energy Corp — it also leaves behind 48,000 tons of steel.
US President Joe Biden revoked permits for the oil pipeline on his first day in office, killing a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump. The pipeline would have spanned almost 1,900 kilometres. TC Energy anticipated needing about 660,000 tons of steel just for the US portion.
About 150 kilometres of pipe had been installed and an
additional 2.2 kilometres had been completed at Canada-US border as of the end of 2020, the Canada Energy Regulator said. That would amount to 48,000 tons of steel, assuming standard dimensions of line pipe, according to Bloomberg calculations.
The benchmark steel price is about $1,060 a ton, which would value the haul at almost $51 million — though as scrap it would be sold for less.