Dive Brief:

• The materials and equipment portion of the IHS PEG Engineering and Construction Cost Index for this month is near 50%, the point that divides rising and falling prices, thanks in part to global copper prices.
• IHS said the market has been worried about too much copper being available and prices falling, and that has benefited contractors buying wire and other supplies, though materials prices overall still rose.
• The index component that figures in subcontractor labor came down 2.4 percentage points from March but remains at 52.3, and the overall index for April came in at 52.4. 

Dive Insight:

IHS reported that despite the decreasing cost of subcontractor labor, which would indicate a better supply than in March, there are still reports from western Canada and the U.S. Gulf Coast of shortages. Welders are especially in short supply, the report said.