TOP NEWS
The Rock Products Road Show
The Rock Products Road Show – an “Economics + Equipment” informational session – rolled into Thompsonville, Mich., on July 21 for the Michigan Aggregates Association’s summer meeting, held at the Crystal Mountain Resort.
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the first quarter of 2023 was 160 million metric tons, a decrease of 8.8% compared with that of the same period of 2022, according to USGS Commodity Specialist Jason Christopher Willett. The estimated production-for-consumption of construction sand and gravel in the first quarter of 2023 decreased from that of first quarter 2022 in four of the nine geographic divisions.
Matson Resigns
Darin M. Matson, who has served in various leadership roles at Rogers Group, Inc. over the past 25 years and has been president and chief executive officer (CEO) for the last seven years, has resigned to pave the way for new leadership.
Knife River Reports its First Results
Knife River reported second quarter consolidated revenue of $785.2 million, a 10% increase from the prior-year period, led by strong results in each region and more than 10% price increases across all consolidated product lines.
MSHA WATCH
The U.S. Department of Labor announced that its Mine Safety and Health Administration (MSHA) will extend the public comment period on proposed amendments to existing federal standards that protect the nation’s miners from health hazards related to workplace exposure of respirable crystalline silica or silica dust. MSHA will extend the comment period from Aug. 28 to Sept. 11.
ECONOMIC INDICATORS
WTI CRUDE OIL FUTURES
8/21/2023: $80.72/barrel, down $1.79 from week earlier; down $10.05 from year earlier.
NATURAL GAS
8/21/2023: $2.632/MMBtu, down $0.163 from week earlier; down $6.704 from year earlier.
RETAIL DIESEL
8/21/2023: $4.389/gal., up $0.011 from week earlier; down $0.520 from year earlier.
ELECTRICITY
5/20/23: Average price to industrial customers 7.75 cents/kilowatt hour; down from 8.37 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration
WOMEN IN AGGREGATES
Women in Aggregates is a new group dedicated to supporting women working in the aggregates industry. The Mission Statement of the group is: “To create a supportive space for women that fosters leadership growth, networking opportunities and advocacy of the aggregate industry.” Membership in Women in Aggregates is open to any woman working in, or working in support of, the aggregates industry, including producers, manufacturers and distributors; and marketing, advertising or public relations professionals. Interested parties can go to www.womeninaggregates.com to join the mailing list and to stay apprised of future developments, meetings, events and other communications from the group. There is also a LinkedIn discussion page, at www.linkedin.com/groups/12717856/. The AVP Pulse Index for August – brought to you by Rock Products and Allen-Villere Partners – increased 0.1% month over month, moving the Index up 6.3% year-over-year.
USGS STATS
The AVP Pulse Index for August – brought to you by Rock Products and Allen-Villere Partners – increased 0.1% month over month, moving the Index up 6.3% year-over-year.
Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonbuilding starts drove the increase, rising 38%, due to the start of a singular large LNG facility. Residential starts rose 20%, while nonresidential building starts lost 6%.
According to the U.S. Census Bureau, construction spending during June 2023 was estimated at a seasonally adjusted annual rate of $1,938.4 billion, 0.5% (±0.5%) above the revised May estimate of $1,929.6 billion.