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    Analysis

    May 6, 2025

    Final Thoughts

    Written by Stephen Miller

    Given the news about tariffs and bringing back industries to the US, a brief look back in time may show how our economy changes with technological advances and the shifting economies of scale. 

    A good case is the history of ironmaking in the US, particularly the pig iron industry in Southeast Ohio in the early 1800s. This may shed some light on our current endeavor to turn back the clock and bring back industries that declined because they were better suited to yield to new technology, environmental concerns, and demographical trends in our society.

    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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