Pit & Quarry, June 2014

INDUSTRY SNAPSHOT FIRST OF MONTH OPENING MAY APR Cemex CX 1265 1263 CRH Oldcastle CRH 2928 2849 Eagle Materials EXP 8344 8900 Granite Construction GVA 3737 3997 Martin Marietta Materials MLM 12474 12876 Texas Industries TXI 8688 9000 U S Concrete USCR 2444 2326 U S Lime Minerals USLM 5402 5677 Vulcan Materials Co VMC 6456 6687 Source Yahoo Finance P Q AGGREGATES INDUSTRY INDEX JUL 11 AUG SEP OCT NOV DEC JAN 12 FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN 13 FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC JAN 14 June 276 FEB MAR APR MAY JUN Source Pit Quarry 300 250 200 150 The Pit Quarry Aggregates Industry Index is still on the rise picking up two points in June New data on U S bridge repair needs emerges An analysis of the 2013 National Bridge Inventory database that the U S Department of Transportation DOT released shows vehicles cross more than 63000 structurally compromised bridges across the country 250 million times every day The most heavily traveled are on the interstate system And the problem could get a lot worse the chief economist for the American Road Transportation Builders Association ARTBA says as states across the nation face a slowdown in reimbursements for already approved federal aid highway projects in August Without congressional action ARTBAs Alison Premo Black says there will be no Highway Trust Fund support for any new road bridge or public transportation projects in any state during fiscal year 2015 which begins Oct 1 Letting the Highway Trust Fund investment dry up would have a devastating impact on bridge repairs Black says noting the trust fund has supported 89 billion in bridge construction work by the states over the past 10 years It would set back bridge improvements in every state for the next decade ARTBAs analysis of the bridge data supplied by states to DOT found that the 250 most heavily crossed structurally deficient bridges are on urban interstate highways particularly in California With one exception ARTBA says all are at least 39 years old Pennsylvania 5218 Iowa 5043 Oklahoma 4227 Missouri 3357 and California 2769 have the highest number of structurally deficient bridges Nevada 36 Delaware 56 Utah 117 Alaska 133 and Hawaii 144 have the least In addition at least 20 percent of the bridges in four states Pennsylvania 23 percent Rhode Island 22 percent Iowa 21 percent and South Dakota 21 percent fall in the structurally deficient category Monthly Construction Contract Value Seasonally Adjusted Annual Rates in Millions Mar 2014 Feb 2014 Change Nonresidential Building 176326 141969 24 Residential Building 208556 213780 2 Nonbuilding Construction 136498 129333 6 Total Construction 521380 485082 7 Source McGraw Hill Construction Above Martin Marietta Materials and Vulcan Materials stocks dipped more than 3 percent from April to May U S Concrete experienced the largest monthly increase among those on the list at more than 5 percent Below March was a particularly strong month for nonresidential building as evidenced by its 24 percent increase Year to Date Construction Contract Value Unadjusted Totals in Millions 3 mo 2014 3 mo 2013 Change Nonresidential Building 33183 34715 4 Residential Building 45979 44474 3 Nonbuilding Construction 28271 30823 8 Total Construction 107433 110012 2 Source McGraw Hill Construction 8 PIT QUARRY June 2014 www pitandquarry com