TOP NEWS
US Aggregates Closes Plant
US Aggregates closed its Perkinsville, Ind., plant, as the remaining product reserves on the property are not of sufficient quantity and are too challenging for the company to continue to produce.
Luck Companies Honored for Employee Engagement
Luck Companies, the nation’s largest family owned and operated producer of crushed stone and aggregates, has been ranked as one of the top three most engaged places to work in the United States.
Peckham Industries Acquires JSL Materials
Peckham Industries Inc., has acquired JSL Materials Inc. (parent company to John S. Lane & Son and JSL Asphalt). Located in Westfield, Mass., JSL Materials is one of the leading aggregate producers in New England.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that a contract maintenance mechanic was performing elevator maintenance when the car descended, crushing the mechanic against an elevator platform. The person died at the scene on Dec. 3. This is the 22nd fatality reported for 2019, and the seventh fatality classified as “Machinery.”
USGS STATS
An estimated 446 Mt of crushed stone was produced and shipped for consumption in the United States in the third quarter of 2019, an increase of 9% compared with that of the third quarter of 2018. The estimated production for consumption in the first nine months of 2019 was 1.14 GT, an increase of 8% compared with that of the same period of 2018, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological Survey.
ECONOMIC INDICATORS
The U.S. Census Bureau announced that construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6% (±1.0%) above the revised October estimate of $1,316.8 billion. The November figure is 4.1% (±1.5%) above the November 2018 estimate of $1,271.4 billion.
“Western Texas Intermediate (WTI) prices dropped close to 13% in 2019 after rising 28% in 2018 and 18% in 2017. This drop in energy prices filtered down asphalt products such as paving and roofing. Producers were not able to hold on to the price increases that were announced in January 2019. By the end of the year, prices for paving mixtures were 1.3% less than what was recorded in December 2018,” said Deni Koenhemsi, senior economist at IHS Markit.
ENERGY
- WTI Crude Oil Futures Price: 1/17/2020: $58.54/barrel, down $0.50 from week earlier; up $6.47 from year earlier.
- Natural Gas Futures Price: 1/17/2020: $2.003/MMBtu, down $0.199 from week earlier; down $1.410 from year earlier.
- Retail Gasoline Price: 1/13/2020: $2.570/gal., down $0.008 from week earlier; up $0.323 from year earlier.
- Retail Diesel Price: 1/13/2020: $3.064/gal., down $0.015 from week earlier; up $0.088 from year earlier.
- Electricity: 10/20/2019: Average price to industrial customers 6.85 cents/kilowatt hour; down from 6.88 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration