Concrete Volumes spike in October
Data recently released by the United States Geological Service shows 169,151 tons of cement were shipped to the state during October 2023.
The tonnage is 2.2% higher than October 2022 but is a 16% growth over September 2023. Type 1L Cement represented 92% of the tonnage shipped.
Looking to ready mix volumes, we estimate 626,366 cubic yards of concrete were placed during the month. The yardage placed represents the largest monthly total in the state since we began tracking yardage in 2014. We will review future reports to determine if the volumes are adjusted later. The continued strength in concrete yardage is somewhat surprising with the slowdown in residential construction (home starts off 8.2% from 2022) and the sharp contraction in the AIA billing index across the country. The drop in the AIA billing index would forecast a slowdown in commercial construction in coming months. Alabama continues to have large on-going industrial projects that are helping to offset slowdown in traditional projects.