TOP NEWS
Martin Marietta Materials Inc. announced that it has entered into a definitive agreement to sell its South Texas cement business and certain related concrete operations to CRH Americas Materials Inc., a subsidiary of CRH plc, for $2.1 billion in cash. This on the heels of third quarter Building Materials business revenues of a record $1.9 billion, a 10.5% increase.
Vulcan Materials announced results for the third quarter ended Sept. 30, reporting total revenues of $2.186 billion versus $2.088 billion during the same period in 2022.
Summit Materials Inc. announced results for the third quarter ended Sept. 30, reporting that net revenue increased $56.0 million, or 8.2%, to $742.0 million, as increases in average sales prices across all lines of business more than offset lower volumes.
MSHA WATCH
MSHA is advising that cold weather can cause cold stress, which can lead to hypothermia, frostbite and other severe injuries, and illnesses. The agency recommends the following best practices:
- Monitor your physical condition and that of your coworkers.
- Wear appropriate clothing.
- Wear clothing that allows a full range of motion necessary for the tasks of the work.
- Move into warm locations during breaks.
- Include chemical hot packs in your first aid kit.
- Avoid touching cold metal surfaces with bare skin.
USGS STATS
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the second quarter of 2023 was 249 Mt, a decrease of 4% compared with that in the second quarter of 2022. Production for consumption in the first six months of 2023 decreased by 6% compared with that in the same period of 2022, according to U.S. Geological Survey (USGS) Commodity Specialist Jason Willett.
ECONOMIC INDICATORS
The AVP Pulse Index for November – brought to you by Rock Products and Allen-Villere Partners – decreased 0.7% month-over-month. The Index is up 2.9% year-over-year.
Total construction starts fell 7% in October to a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network.
According to the U.S. Census Bureau, construction spending during September 2023 was estimated at a seasonally adjusted annual rate of $1,996.5 billion, 0.4% (±1.2%) above the revised August estimate of $1,988.3 billion.
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/.
ENERGY
WTI Crude Oil Futures
11/20/2023: $77.60/barrel, down $0.66 from week earlier; down $2.48 from year earlier.
Natural Gas
11/20/2023: $2.882/MMBtu, down $0.315 from week earlier; down $3.421 from year earlier.
Retail Diesel
11/20/2023: $3.289/gal., down $ 0.060 from week earlier; down $ 0.359 from year earlier.
Electricity
8/20/23: Average price to industrial customers 8.82 cents/kilowatt hour; down from 9.38 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration