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First Look - July 2016


U.S. Concrete Makes New York Acquisition
U.S. Concrete Inc. has acquired the assets of NYCON Supply Corp., a ready-mixed concrete producer headquartered in the Long Island City neighborhood of Queens, N.Y.

Mulzer Recognized for Commitment to Employee Health
Cigna has selected Mulzer Crushed Stone Inc. as a winner of the annual Cigna Well-Being Regional Award for demonstrating a strong commitment to improving the health and wellness of its employees through a workplace wellness program
.

Luck Companies Sells Retail Stone Centers
Luck Companies announced it has sold five Luck Stone Center retail locations and closed two more, according to the
Richmond Times-Dispatch.


USGS STATS

An estimated 270 Mt of crushed stone was produced and shipped for consumption in the United States in the first quarter of 2016, an increase of 21 percent compared with that of the same period of 2015. The estimated annual output produced for consumption in 2015 was 1.33 Gt, an increase of 7 percent compared with that of 2014.


ECONOMIC INDICATORS

The U.S. Census Bureau of the Department of Commerce announced that construction spending during April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8 percent (±1.3 percent) below the revised March estimate of $1,155.1 billion. The April figure is 4.5 percent (±1.6 percent) above the April 2015 estimate of $1,085.0 billion.

At a seasonally adjusted annual rate of $636.7 billion, new construction starts in May increased 5 percent from April, according to Dodge Data & Analytics. Much of the growth came from the nonbuilding construction sector (public works and electric utilities), which was lifted by a $3.8 billion oil pipeline in the upper Midwest as well as by seven power plant projects with a combined cost of $4.3 billion.

Nationwide housing starts were virtually unchanged in May, inching down 0.3 percent to a seasonally adjusted annual rate of 1.16 million, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance edged up 0.7 percent to a seasonally adjusted annual rate of 1.14 million.


MSHA WATCH

On July 1, the U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) began enhanced enforcement of “Rules to Live By,” its initiative of standards commonly cited following mine deaths, as well as some standards for the coal industry. “While we’ve seen progress in reducing mining deaths associated with Rules to Live By, mine operators need to conduct better site inspections and take appropriate action to improve compliance with these standards,” said Joseph A. Main, assistant secretary of labor for mine safety and health.


ENERGY

  • WTI crude oil futures price

    6/28/2016: $47.85/barrels, down $1.00 from week earlier; down $10.48 from year earlier.

  • Natural gas futures price

    6/28/2016: $2.917/MMBtu, up $0.149 from week earlier; up $0.112 from year earlier.

  • Retail gasoline price

    6/27/2016: $2.329/gal, down $0.024 from week earlier; down $0.472 from year earlier.

  • Crude oil inventories

    6/24/2016: 526.6 million barrels, down 4.1 million barrels from week earlier; up 61.2 million barrels from year earlier.

  • Weekly coal production

    6/18/2016: 13.351 million tons, up 0.410 million tons from week earlier; down 2.943 million tons from year earlier.

 

Source: U.S. Energy Information Administration