Monday, June 09, 2008
Husband Joram is excited to see Reliance Steel (NYSE: RS) hit $70 a share today (he owns shares). I heard a lot about steel prices at the American Wind Energy Association's Windpower 2008 conference. The increase in steel prices is driving up the cost of turbines, so manufacturers and developers are concerned about the cost of doing business. On the other hand, folks like the Steelworkers Union are quite supportive of wind power because the turbines use so much steel and help strengthen that industry.