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Industry Leaders Share Growth Projections
The Texas Aggregates & Concrete Association at its 67th Annual Meeting heard a National Economic Report presented by Jon Hockenyos, president of TXP Inc., an economic analysis and public policy consulting firm.
New Frontier Materials Buys Fred Weber Assets
New Frontier Materials, a company formed last year to acquire companies in the construction materials industry, has purchased Fred Weber’s asphalt and rock quarry assets, giving the new firm more than 20 asphalt and quarry sites.
BMC Enterprises Makes Acquisitions
The company has acquired Stewart Concrete Products headquartered in Halfway, Mo., and created a strategic partnership with Stewart-Morrison Redi-Mix Inc. based in West Plains, Mo., bringing the company’s recent acquisitions to five in the last 13 months.
An estimated 286 Mt of crushed stone was produced and shipped for consumption in the United States in the first quarter of 2021, a slight decrease compared with that of the same period of 2020, according to Jason Willett, U.S. Geological Survey aggregates commodity specialist.
Total construction starts lost 7% in June, slipping to a seasonally adjusted annual rate of $863.6 billion, according to Dodge Data & Analytics. All three major sectors (residential, nonresidential building and nonbuilding) pulled back during the month.
The U.S. Census Bureau reported that construction spending during May 2021 was estimated at a seasonally adjusted annual rate of $1,545.3 billion, 0.3% (±1.0%) below the revised April estimate of $1,549.5 billion.
Following six months of consecutive gains, the Dodge Momentum Index fell to 165.8 (2000=100) in June, down 5% from the revised May reading of 175.1. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning.
The Mine Safety and Health Administration reported that so far this year, nine miners have been killed and 185 have been injured in accidents involving powered haulage equipment. That’s why the agency on July 20, hosted a national Stand Down for Safety Day focused on powered haulage and vehicle rollovers to help educate miners, save lives and prevent injuries.
- WTI Crude Oil Futures 7/23/2021: $72.07/barrel; up $0.26 from week earlier; up $31.00 from year earlier.
- Natural Gas Futures 7/23/2021: $4.060/MMBtu, up $0.386 from week earlier; up $2.275 from year earlier.
- Retail Diesel 7/19/2021: $3.153/gal., up $0.020 from week earlier; up $0.967 from year earlier.
- Electricity 4/20/2021: Average price to industrial customers 6.77 cents/kilowatt hour; up from 6.40 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration