Regions :: Middle East :: Saudi Arabia
E&C Materials and Equipment Costs to Slide by 2010
9:19 AM MDT | April 1, 2009 | Esther D'Amico
Material and equipment costs in the engineering and construction (E&C) sector will likely fall in fourth-quarter 2009 or early in 2010, according to Fluor’s annual materials outlook study. Costs for E&C commodities—including copper, nickel, and scrap steel—have already dropped by more than 30%, but that has not yet hit the deep backlog in the finished product sector, says Jim Scotti, senior v.p. and chief procurement officer at Fluor. “We’re still in a volatile equipment and materials market,” which puts pressure on...
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