TOP NEWS
Blue Ridge Construction Capital Acquisitions
In partnership with industry veteran Anthony Minshew, Blue Ridge Construction Capital announced the acquisitions of Matthews Sand and Gravel (MSG) and Edge Aggregates. Based in Smithfield, N.C., MSG is a supplier of asphalt sand and concrete sand to the Raleigh, N.C., construction market. Edge is based in Battleboro, N.C., and has established itself as a high-quality aggregate supplier to the Raleigh concrete market.
NSSGA Hosts Legislative & Policy Forum
The National Stone, Sand & Gravel Association (NSSGA) hosted its annual Legislative & Policy Forum in Washington, D.C., Sept. 20-23 at the Capitol Hill Hyatt Regency. With more than 300 attendees, NSSGA conducted committee meetings, hosted dynamic general sessions and held its Hill Day for members to advocate for the industry.
New Martin Marietta Quarry in Virginia
As the production season kicked into high gear this past spring, Chris Meyers and the rest of the crew at Anderson Creek Quarry attacked the booming demand with a new weapon in its arsenal: a newly constructed $20 million plant.
USGS STATS
An estimated 413 million metric tons of crushed stone was produced and shipped for consumption in the United States in the second quarter of 2022, a slight increase compared with that of the second quarter of 2021, according to Jason Christopher Willett, commodity specialist, National Minerals Information Center, U.S. Geological Survey. The five leading states, in descending order of production for consumption, were Texas, Pennsylvania, Florida, Missouri and Ohio.
ECONOMIC INDICATORS
The U.S. Census Bureau reported that total construction spending during August 2022 was estimated at a seasonally adjusted annual rate of $1,781.3 billion, 0.7% (±1.0%) below the revised July estimate of $1,793.5 billion.
Over the first eight months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 728,866. On a year-over-year (YoY) basis, this is 6.0% below the August 2021 level of 775,772.
Total construction starts decreased 19% in September to a seasonally adjusted annual rate of $1.02 trillion, according to Dodge Construction Network. Highway and bridge starts dropped 31%.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that on Sept. 28, a miner at Teichert Inc.’s Spanish Springs plant, Washoe County, Nev., died when he was engulfed in a collapsed stockpile. The miner was working close to the toe of the stockpile to remove material off the top of a surge tunnel’s feeder to clear a blockage. This is the 22nd fatality reported in 2022, and the first classified as “Engulfment.”
ENERGY
WTI CRUDE OIL FUTURES
10/25/2022: $85.32/barrel, up $2.50 from week earlier; up $1.56 from year earlier.
NATURAL GAS FUTURES
10/25/2022: $5.613/MMBtu, down $0.132 from week earlier; down $0.285 from year earlier.
RETAIL DIESEL
10/24/2022: $5.341/gal., up $0.002 from week earlier; up $1.628 from year earlier.
ELECTRICITY
8/20/2022: Average price to industrial customers 9.72 cents/kilowatt hour; up from 7.64 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration