TOP NEWS
Luck Stone Acquires Ararat Rock Products Luck Stone acquired North Carolina-based Ararat Rock Products, which operated quarries in Mount Airy and Eden, one of the largest acquisitions in the company’s nearly 100-year history.
Mellott Company Sold
Mellott Company has been acquired by MFG Partners and PNC Mezzanine Capital. Global investment bank Stout served as exclusive financial advisor to Mellott in connection with this transaction.
Martin Marietta Expands Academic Outreach
In yet another move to support education and attract the young leaders needed to ensure the company’s future success, Martin Marietta has entered into a partnership with Shaw University.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that on Oct. 1, a 25-year-old miner at Ovyn #1 Pit, Taylor County, Wis., was fatally injured when he entered a surge bin used as a feed hopper and was engulfed by material.
This is the 28th fatality reported in 2021, and the third classified as “Handling Material.”
USGS STATS
An estimated 415 Mt of crushed stone was produced and shipped for consumption in the United States in the second quarter of 2021, an increase of 4% compared with that of the second quarter of 2020, according to Jason Willett, U.S. Geological Survey aggregates commodity specialist.
ECONOMIC INDICATORS
Total construction starts rose 10% in September to a seasonally adjusted annual rate of $889.7 billion, according to Dodge Construction Network.
The U.S. Census Bureau announced that construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from (±1.0%) the revised July estimate of $1,584.0 billion.
Shipments of limestone on the Great Lakes totaled 3.7 million tons in September, an increase of 10.4% compared to a year ago. Limestone cargos were above the month’s five-year average by 5.2%.
ENERGY
- WTI CRUDE OIL FUTURES 10/20/2021: $83.87/barrel, up $3.43 from week earlier; up $42.41 from year earlier.
- NATURAL GAS FUTURES 10/20/2021: $5.170/MMBtu, down $0.420 from week earlier; up $2.257 from year earlier.
- RETAIL DIESEL 10/18/2021: $3.322/gal., up $0.055 from week earlier; up $1.172 from year earlier.
- ELECTRICITY 7/21/2021: Average price to industrial customers 7.53 cents/kilowatt hour; up from 7.17 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration