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    March 27, 2025

    Miller on Scrap: Ferrous mart losing steam in April on auto woes

    Written by Stephen Miller

    The US ferrous scrap market rise this year is showing signs of slowing down in April as US steelmakers adjust production in line with slower automotive production and sales. But President Trump’s announcement of 25% auto tariffs could change things in the months to come.

    Cox Automotive reported new car inventory levels on dealer lots in January were at 80 days. It is estimated this figure has grown to 89 days in early March. The optimal industry inventory level is 60 days or less.

    Stephen Miller

    Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40-plus years, he has worked in all capacities in the trading business. He has had positions in both domestic and international scrap trading. In addition to scrap, Miller was at the forefront of the pig iron trade and established a pig iron distribution company under the name of Ferrosource, Inc. Most recently, Miller has concentrated on the scrap export market and regularly does consulting for several companies in the industry.

    Read more from Stephen Miller

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