US construction material costs fell again in May, according to economic forecaster IHS and the Procurement Executives Group (PEG). The IHS PEG Engineering and Construction Cost Index (ECCI) stood at 47.9 points in May. This was up from April's figure, but below the 50-point mark which separates rising and falling costs. IHS said prices for five of 12 individual components of the index fell in May, with the steepest declines seen in carbon steel pipes and fabricated structural steel. However, six components registered higher pricing, led by ready-mixed concrete. The cost of copper wire and cable was also up for the first time since September.
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