TOP NEWS
Heidelberg Materials
Heidelberg Materials has entered into a definitive purchase agreement to acquire Highway Materials Inc., one of the largest independent aggregates and asphalt producers in the Greater Philadelphia market.
Holcim US
Holcim US has acquired King William Sand & Gravel Co. Inc., a private company with a long-standing presence in King William County, Va. With this strategic transaction, Holcim gains high-quality sand and gravel reserves that will serve the construction needs of customers in the Central Virginia area of the Mid-Atlantic region.
Cemex
Cemex announced a joint venture agreement with sand and gravel supplier Couch Aggregates and marine bulk product distributor Premier Holdings. This agreement is part of Cemex’s ongoing strategy to accelerate growth in the United States and expand its aggregates business.
USGS STATS
The U.S. Geological Survey reported that the estimated U.S. output of construction sand and gravel produced and shipped for consumption in the first quarter of 2024 was 163 Mt, a decrease of 2.8% compared with that of the same period of 2023, according to U.S. Geological Survey (USGS) Commodity Specialist Jason Christopher Willett. The five leading states were, in descending order of production-for-consumption, Texas, Florida, California, Missouri and Ohio. Their combined total production-for-consumption was 151 Mt, a slight decrease when compared with that of the same period of 2023.
ECONOMIC INDICATORS
The AVP Pulse Index for June – brought to you by Rock Products and Allen-Villere Partners – increased 0.1% for the month, but continues to gain ground with steady, but not overly strong, year-over-year growth of 3.8%. Over the past 36 months, the index increased 10.5%.
According to the U.S. Census Bureau, construction spending during May 2024 was estimated at a seasonally adjusted annual rate of $2,139.8 billion, 0.1% (±1.0%) below the revised April estimate of $2,142.1 billion.
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased by 10.4% in June to 198.6 (2000=100) from the revised May reading of 179.9.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) completed impact inspections in May at 15 mines in 12 states, leading the agency to cite 300 violations and one safeguard. Of the 300 violations MSHA identified in May, 62 were evaluated as S&S and five had unwarrantable failure findings. The agency completed these inspections at mines in Arizona, Idaho, Illinois, Kentucky, Mississippi, Missouri, Ohio, Pennsylvania, South Dakota, Texas, Utah and West Virginia. MSHA inspected plants owned by Buzzi Unicem, Holcim and others.
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 Inventories
7/12/2024: 440.2 million barrels, down 4.9 million barrels from week earlier; down 17.2 million barrels from year earlier.
Natural Gas Inventories
7/12/2024: 3,209 Bcf, up 10 Bcf from week earlier; up 250 Bcf from year earlier.
Retail Diesel
7/15/2024: $3.826/gal., down $0.039 from week earlier; up $0.020 from year earlier.
Electricity
4/20/2024: Average price to industrial customers 7.82 cents/kilowatt hour; up from 7.50 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration