Cement and Ready-Mix Use Spikes in November 2021
Data recently released by the United States Geological Service shows 140,875 tons of cement were shipped to the state during the month of November 2021. Cement shipments grew by nearly 18% over the same period in 2020 and 3.5% over the previous month.
The shipment represents the second highest total over the past seven years.
Looking to ready mix volumes, we estimate 521,660 cubic yards of concrete were placed during the month. The total represents the second highest total since April. After 11 months of yardage data in 2021, the state is outpacing 2020 totals by almost 13.6%.
Based on anecdotal evidence from members, residential construction remains very strong all across the state. However, data last week shows mortgage and refinance applications dropping to their lowest point in 2 years. Rates have slowly been rising since last fall, and at some point will have an impact on new home starts. Reviewing commercial construction, the AIA billing index for January 2022 came in at 51. Anything over 50 is consider a growing market.