Ferrous Scrap

MetalX founder, former OmniSource CEO Danny Rifkin passes, funeral April 6

Written by Michael Cowden

April 3, 2025

MetalX Founder and CEO Danny Rifkin – born in 1954 – died on April 1, surrounded by family.

“Danny will be remembered for his vision, generosity, and lasting impact – in business, in community, and in the hearts of all who knew him,” the company said in a press release.

A service will be held on Sunday, April 6, at the D.O. McComb & Sons Funeral Homes – Covington Knolls, in Fort Wayne, Ind., according to Rifkin’s obituary.

Rifkin founded scrap recycler MetalX in 2012 with his son Neal. MetalX was acquired in in 2021 by Australia’s BlueScope Steel for $240 million. The move came as steelmakers looked to secure sources of valuable prime scrap.

Rifkin started his career with OmniSource, one of the largest recyclers in the US, where he rose to become president and CEO.

Steel Dynamics Inc. (SDI) acquired the company in 2007 in a deal valued at more than $1 billion, according to Reuters. The price tag at the time shocked some in the market. It also heralded the rise of EAF steelmakers and the inherent value of recycled materials.

Rifkin was deeply committed not only to the recycling industry but also to his community and to his faith, MetalX said. He founded the Fort Wayne Center for learning, which helped children with learning differences. He was also devoted to the Jewish Federation of Fort Wayne and worked to preserve the memory of the Holocaust.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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