Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported) July 17, 2024

STEEL DYNAMICS, INC.

(Exact name of registrant as specified in its charter)

Indiana		0-21719		35-1929476
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

7575 West Jefferson Blvd, Fort Wayne, Indiana 46804

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: 260-969-3500

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock voting, $0.0025 par value	STLD	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition

On July 17, 2024, Steel Dynamics, Inc. issued a press release titled “Steel Dynamics Reports Second Quarter 2024 Results.” A copy of that press release is attached hereto as Exhibit 99.1.

The information contained in Exhibit 99.1 is furnished under this Item 2.02 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing thereunder or under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in any such filing.

Item 9.01. Financial Statements and Exhibits

(d )          Exhibits.

The following exhibit is furnished with this report:

Exhibit Number

Description

99.1

A press release dated July 17, 2024, titled “Steel Dynamics Reports Second Quarter 2024 Results.”

104

Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.

		STEEL DYNAMICS, INC.

	By:	/s/ Theresa E. Wagler
Date: July 18, 2024		Theresa E. Wagler
	Title:	Executive Vice President and Chief Financial Officer

Exhibit 99.1

Press Release July 17, 2024
	7575 W. Jefferson Blvd. Fort Wayne, IN 46804

Steel Dynamics Reports Second Quarter 2024 Results

FORT WAYNE, INDIANA, July 17, 2024 / PRNewswire /

Second Quarter 2024 Performance Highlights:

Steel shipments of 3.2 million tons

Net sales of $4.6 billion, operating income of $559 million, net income of $428 million, and adjusted EBITDA of $686 million

Cash flow from operations of $383 million

Strong liquidity of $2.7 billion as of June 30, 2024

Share repurchases of $309 million of the company’s common stock, representing 1.5 percent of its outstanding shares

Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced second quarter 2024 financial results. The company reported second quarter 2024 net sales of $4.6 billion and net income of $428 million, or $2.72 per diluted share. Comparatively, the company’s sequential first quarter 2024 net income was $584 million, or $3.67 per diluted share and prior year second quarter net income was $812 million, or $4.81 per diluted share.

“The teams delivered a solid performance, achieving second quarter 2024 operating income of $559 million and adjusted EBITDA of $686 million,” said Mark D. Millett, Chairman and Chief Executive Officer. “Given our proven through-cycle cash generation, we also maintained strong liquidity of $2.7 billion, while also investing $419 million in our organic growth projects and distributing $382 million to our shareholders through cash dividends and share repurchases. Across the company, our teams performed well, while keeping each other safe.

“Underlying steel demand was stable in the second quarter,” continued Millett. “However, earnings declined sequentially due to lower realized selling values in our steel operations which more than offset our improved earnings from metals recycling and steady earnings from our steel fabrication business. During the quarter, we experienced customer order inconsistency within the steel platform despite the steady underlying demand dynamics, as scrap prices further declined and customers continued to manage to very low inventory levels. Additionally, the U.S. also experienced a significant increase in steel imports, especially within coated flat rolled steel products.

“As fundamental steel demand remains constructive, customer inventories remain incredibly low, and scrap prices have steadied, we believe steel pricing has reached a pivot point to the upside. In support, we have seen a positive trend in steel order activity in recent weeks, especially for our flat rolled steel coated products.”

Second Quarter 2024 Comments

Second quarter 2024 operating income for the company’s steel operations was $442 million, lower than sequential results, as realized selling values declined more than scrap costs in the quarter. The second quarter 2024 average external product selling price for the company’s steel operations decreased $63 per ton sequentially to $1,138 per ton. The average ferrous scrap cost per ton melted at the company’s steel mills decreased $29 sequentially to $388 per ton. The company’s Sinton Texas Flat Roll Steel Mill team completed needed changes to gain full access to its melting capacity this week. The company believes Sinton’s production utilization rate will increase from 60 percent for the first half of the year to approximately 75 percent for the second half of 2024, with full availability in 2025.

Compared to the sequential first quarter, second quarter 2024 operating income from the company’s metals recycling operations increased 42 percent to $32 million, based on increased demand supporting higher volume and expanded metal spread. Domestic steel production utilization remained steady compared to the sequential first quarter of 2024. The metals recycling team did an excellent job executing in a challenging scrap price environment during the first half of 2024.

The company’s steel fabrication operations achieved strong operating income of $181 million in the second quarter 2024 aligned with sequential first quarter results of $178 million, based on increased volume. The steel fabrication order backlog extends through the fourth quarter 2024, at historically strong pricing levels. In addition, the continued onshoring of manufacturing, coupled with the robust U.S. infrastructure program and industrial buildouts, supports a strong future demand environment.

Year-to-Date June 30, 2024 Comparison

For the six months ended June 30, 2024, net income was $1.0 billion, or $6.39 per diluted share, with net sales of $9.3 billion, as compared to net income of $1.4 billion, or $8.49 per diluted share, with net sales of $10.0 billion for the same period in 2023.

First half 2024 net sales decreased six percent to $9.3 billion and operating income declined 31 percent to $1.3 billion, when compared to the same period in 2023. Decreased earnings were the result of lower volume and pricing from the company’s steel fabrication operations during the period. First half 2024 operating income from the company’s steel fabrication operations was $359 million, compared to $1.0 billion in the same prior year period. First half 2024 operating income from the company’s steel operations was $1.1 billion, compared to $1.0 billion for the same prior year period. The average first half 2024 external selling price for the company's steel operations increased $7 per ton to $1,169 per ton compared to the first half 2023, and the average ferrous scrap cost per ton melted at the company’s steel mills decreased $25 per ton to $403 per ton.

Based on the company’s differentiated business model and highly variable cost structure, the company achieved cash flow from operations of $738 million in the first half 2024, representing a strong first half performance. The company also invested $793 million in capital investments, paid cash dividends of $141 million, and repurchased $607 million of its outstanding common stock, representing three percent of its outstanding shares, while maintaining strong liquidity of $2.7 billion.

Outlook

“We remain confident that market conditions are in place for domestic steel consumption to be solid in the second half of 2024,” said Millett. “Order entry has improved in many of our businesses, and we expect steel pricing to firm. We believe the automotive, non-residential construction, and industrial sectors will remain steady this year. The continued onshoring of manufacturing businesses, combined with the expectation of significant fixed asset investment to be derived from public funding related to the U.S. Infrastructure, Inflation Reduction Act, and Department of Energy programs, will competitively position the domestic steel industry. We believe this will benefit all of our operating platforms, especially our steel and steel fabrication businesses.

“We continue to ramp up our four new value-added flat rolled steel coating lines that began operating earlier this year. The teams have produced prime quality galvanized and painted products on all four lines in record time. We will be benefitting from this additional 1.1 million tons of value-added steel products in the second half of this year and fully in 2025. These projects enhance our differentiated supply-chain capabilities, while also increasing our higher-margin steel product offerings which already represent upwards of 65 percent of our steel revenues.

“We are also quickly progressing on our aluminum flat rolled products mill construction and are incredibly excited about this meaningful growth opportunity, which is aligned with our existing business and operational expertise,” said Millett. “We plan to begin operating the aluminum flat rolled mill mid-2025. We have intentionally grown with our customers’ needs, providing efficient sustainable supply chain solutions for the highest quality products. We are pleased to further diversify our end markets with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can and packaging industry, in addition to the automotive, industrial, and construction sectors. Our customers and our people are incredibly excited for this growth opportunity.

“Our commitment is to the health and safety of our teams, families, and communities, while meeting the current and future needs of our customers. Our culture and business model continue to positively differentiate our performance from the rest of the industry. We are competitively positioned and focused to generate long-term sustainable value,” concluded Millett.

Conference Call and Webcast

Steel Dynamics, Inc. will hold a conference call to discuss second quarter 2024 operating and financial results on Thursday, July 18, 2024, at 11:00 a.m. Eastern Daylight Time. You may access the call and find dial-in information on the Investors section of the company’s website at www.steeldynamics.com. A replay of the call will be available on our website until 11:59 p.m. Eastern Daylight Time on July 25, 2024.

About Steel Dynamics, Inc.

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in North America, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections, and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.

Note Regarding Non-GAAP Financial Measures

The company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the non-GAAP financial measures EBITDA and Adjusted EBITDA provide additional meaningful information regarding the company’s performance and financial strength. Non-GAAP financial measures should be viewed in addition to and not as an alternative for the company’s reported results prepared in accordance with GAAP. In addition, not all companies use identical calculations for EBITDA or Adjusted EBITDA; therefore, EBITDA and Adjusted EBITDA included in this release may not be comparable to similarly titled measures of other companies.

Forward-Looking Statements

This press release contains some predictive statements about future events, including statements related to conditions in domestic or global economies, conditions in steel, aluminum, and recycled metals market places, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking", subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) domestic and global economic factors; (2) global steelmaking overcapacity and imports of steel, together with increased scrap prices; (3) pandemics, epidemics, widespread illness or other health issues; (4) the cyclical nature of the steel industry and the industries we serve; (5) volatility and major fluctuations in prices and availability of scrap metal, scrap substitutes and supplies, and our potential inability to pass higher costs on to our customers; (6) cost and availability of electricity, natural gas, oil, and other energy resources are subject to volatile market conditions; (7) increased environmental, greenhouse gas emissions and sustainability considerations from our customers or related regulations; (8) compliance with and changes in environmental and remediation requirements; (9) significant price and other forms of competition from other steel and aluminum producers, scrap processors and alternative materials; (10) availability of an adequate source of supply of scrap for our metals recycling operations; (11) cybersecurity threats and risks to the security of our sensitive data and information technology; (12) the implementation of our growth strategy; (13) litigation and legal compliance; (14) unexpected equipment downtime or shutdowns; (15) governmental agencies may refuse to grant or renew some of our licenses and permits; (16) our senior unsecured credit facility contains, and any future financing agreements may contain, restrictive covenants that may limit our flexibility; and (17) the impacts of impairment charges.

More specifically, we refer you to our more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K under the headings Special Note Regarding Forward-Looking Statements and Risk Factors, in our Quarterly Reports on Form 10-Q, or in other reports which we file with the Securities and Exchange Commission. These reports are available publicly on the Securities and Exchange Commission website, www.sec.gov, and on our website, www.steeldynamics.com under “Investors – SEC Filings.”

Contact: Investor Relations — +1.260.969.3500

Steel Dynamics, Inc.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(in thousands, except per share data)

	Three Months Ended						Six Months Ended						Three Months
	June 30,						June 30,						Ended
	2024			2023			2024			2023			March 31, 2024
Net sales	$	4,632,634		$	5,081,630		$	9,326,637		$	9,974,836		$	4,694,003
Costs of goods sold		3,857,797			3,774,772			7,571,002			7,611,856			3,713,205
Gross profit		774,837			1,306,858			1,755,635			2,362,980			980,798

Selling, general and administrative expenses		160,016			141,209			319,523			285,518			159,507
Profit sharing		48,053			90,990			110,705			160,565			62,652
Amortization of intangible assets		7,645			10,924			15,309			17,802			7,664
Operating income		559,123			1,063,735			1,310,098			1,899,095			750,975

Interest expense, net of capitalized interest		12,719			20,767			24,697			43,274			11,978
Other (income) expense, net		(18,708	)		(31,348	)		(45,492	)		(66,284	)		(26,784	)
Income before income taxes		565,112			1,074,316			1,330,893			1,922,105			765,781

Income tax expense		133,422			258,139			311,703			461,595			178,281
Net income		431,690			816,177			1,019,190			1,460,510			587,500
Net income attributable to noncontrolling interests		(3,692	)		(4,070	)		(7,151	)		(11,093	)		(3,459	)
Net income attributable to Steel Dynamics, Inc.	$	427,998		$	812,107		$	1,012,039		$	1,449,417		$	584,041

Basic earnings per share attributable to Steel Dynamics, Inc. stockholders	$	2.73		$	4.83		$	6.42		$	8.54		$	3.68

Weighted average common shares outstanding		156,856			168,009			157,761			169,803			158,666

Diluted earnings per share attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive	$	2.72		$	4.81		$	6.39		$	8.49		$	3.67

Weighted average common shares and share equivalents outstanding		157,579			168,865			158,467			170,672			159,354

Dividends declared per share	$	0.46		$	0.425		$	0.92		$	0.85		$	0.46

Steel Dynamics, Inc.

CONSOLIDATED BALANCE SHEETS

(in thousands)

	June 30,			December 31,
	2024			2023
Assets	(unaudited)
Current assets
Cash and equivalents	$	829,980		$	1,400,887
Short-term investments		418,367			721,210
Accounts receivable, net		1,775,392			1,608,307
Inventories		3,073,637			2,894,632
Other current assets		141,635			162,790
Total current assets		6,239,011			6,787,826

Property, plant and equipment, net		7,433,564			6,734,218

Intangible assets, net		242,450			257,759

Goodwill		477,471			477,471

Other assets		668,761			651,146
Total assets	$	15,061,257		$	14,908,420
Liabilities and Equity
Current liabilities
Accounts payable	$	1,213,408		$	1,088,330
Income taxes payable		6,070			5,524
Accrued expenses		620,832			778,455
Current maturities of long-term debt		815,642			459,987
Total current liabilities		2,655,952			2,332,296

Long-term debt		2,212,802			2,611,069

Deferred income taxes		928,321			944,768

Other liabilities		143,968			180,760
Total liabilities		5,941,043			6,068,893

Commitments and contingencies

Redeemable noncontrolling interests		171,212			171,212

Equity
Common stock		651			651
Treasury stock, at cost		(6,489,369	)		(5,897,606	)
Additional paid-in capital		1,207,771			1,217,610
Retained earnings		14,413,148			13,545,590
Accumulated other comprehensive income (loss)		(1,428	)		421
Total Steel Dynamics, Inc. equity		9,130,773			8,866,666
Noncontrolling interests		(181,771	)		(198,351	)
Total equity		8,949,002			8,668,315
Total liabilities and equity	$	15,061,257		$	14,908,420

Steel Dynamics, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023
Operating activities:
Net income	$	431,690		$	816,177		$	1,019,190		$	1,460,510

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		117,053			110,970			232,305			218,664
Equity-based compensation		13,013			11,678			28,625			27,756
Deferred income taxes		4,577			43,380			(16,447	)		52,388
Other adjustments		(6,403	)		1,541			12,302			(8,465	)
Changes in certain assets and liabilities:
Accounts receivable		(36,332	)		(16,971	)		(167,085	)		(87,893	)
Inventories		(46,645	)		(55,158	)		(179,670	)		85,954
Other assets		1,973			(4,923	)		(10,203	)		2,919
Accounts payable		(27,251	)		(114,013	)		2,248			3,299
Income taxes receivable/payable		(145,676	)		(85,486	)		19,988			103,761
Accrued expenses		76,562			100,611			(203,475	)		(317,304	)
Net cash provided by operating activities		382,561			807,806			737,778			1,541,589

Investing activities:
Purchases of property, plant and equipment		(419,166	)		(358,280	)		(793,476	)		(584,599	)
Purchases of short-term investments		(63,180	)		(165,052	)		(269,053	)		(521,829	)
Proceeds from maturities of short-term investments		298,314			267,969			571,308			539,076
Other investing activities		(25,554	)		(217,905	)		(11,299	)		(215,562	)
Net cash used in investing activities		(209,586	)		(473,268	)		(502,520	)		(782,914	)

Financing activities:
Issuance of current and long-term debt		580,613			327,132			959,881			721,042
Repayment of current and long-term debt		(590,053	)		(321,143	)		(1,003,992	)		(726,422	)
Dividends paid		(72,624	)		(72,323	)		(140,632	)		(131,121	)
Purchase of treasury stock		(309,064	)		(380,206	)		(607,123	)		(734,203	)
Other financing activities		8,778			(17,579	)		(14,330	)		(41,028	)
Net cash used in financing activities		(382,350	)		(464,119	)		(806,196	)		(911,732	)

Decrease in cash, cash equivalents, and restricted cash		(209,375	)		(129,581	)		(570,938	)		(153,057	)
Cash, cash equivalents, and restricted cash at beginning of period		1,044,901			1,610,443			1,406,464			1,633,919
Cash, cash equivalents, and restricted cash at end of period	$	835,526		$	1,480,862		$	835,526		$	1,480,862

Supplemental disclosure information:
Cash paid for interest	$	41,037		$	41,781		$	50,364		$	51,377
Cash paid for income taxes, net	$	273,323		$	308,055		$	301,713		$	312,758

Steel Dynamics, Inc.

SUPPLEMENTAL INFORMATION (UNAUDITED)

(dollars in thousands)

	Second Quarter						Year to Date
	2024			2023			2024			2023			1Q 2024
External Net Sales
Steel	$	3,132,232		$	3,449,555		$	6,498,469		$	6,538,045		$	3,366,237
Steel Fabrication		472,832			779,409			920,011			1,648,177			447,179
Metals Recycling		586,432			592,373			1,155,905			1,175,841			569,473
Other		441,138			260,293			752,252			612,773			311,114
Consolidated Net Sales	$	4,632,634		$	5,081,630		$	9,326,637		$	9,974,836		$	4,694,003
Operating Income (Loss)
Steel	$	442,317		$	702,340		$	1,116,965		$	1,048,818		$	674,648
Steel Fabrication		180,780			462,121			359,161			1,013,434			178,381
Metals Recycling		32,132			40,292			54,767			83,222			22,635
Aluminum		(19,248	)		(3,411	)		(32,779	)		(5,833	)		(13,531	)
		635,981			1,201,342			1,498,114			2,139,641			862,133

Non-cash amortization of intangible assets		(7,645	)		(10,924	)		(15,309	)		(17,802	)		(7,664	)
Profit sharing expense		(48,053	)		(90,990	)		(110,705	)		(160,565	)		(62,652	)
Non-segment operations		(21,160	)		(35,693	)		(62,002	)		(62,179	)		(40,842	)
Consolidated Operating Income	$	559,123		$	1,063,735		$	1,310,098		$	1,899,095		$	750,975
Adjusted EBITDA
Net income	$	431,690		$	816,177		$	1,019,190		$	1,460,510		$	587,500
Income taxes		133,422			258,139			311,703			461,595			178,281
Net interest expense (income)		(7,867	)		(4,754	)		(22,194	)		(8,224	)		(14,327	)
Depreciation		107,849			98,438			213,879			197,648			106,030
Amortization of intangible assets		7,645			10,924			15,309			17,802			7,664
EBITDA		672,739			1,178,924			1,537,887			2,129,331			865,148
Non-cash adjustments
Unrealized (gains) losses on derivatives and currency remeasurement		818			(18,433	)		(529	)		(26,575	)		(1,347	)
Equity-based compensation		12,855			11,500			27,680			25,377			14,825
Adjusted EBITDA	$	686,412		$	1,171,991		$	1,565,038		$	2,128,133			878,626

Other Operating Information
Steel
Average external sales price (Per ton)	$	1,138		$	1,251		$	1,169		$	1,162		$	1,201
Average ferrous cost (Per ton melted)	$	388		$	444		$	403		$	428		$	417
Flat Roll shipments
Butler, Columbus, and Sinton		1,943,583			1,903,949			3,936,888			3,833,741			1,993,305
Steel Processing divisions *		429,279			420,480			847,826			856,082			418,547
Long Product shipments
Structural and Rail Division		425,295			478,985			866,216			974,536			440,921
Engineered Bar Products Division		195,766			216,163			387,139			447,886			191,373
Roanoke Bar Division		130,109			148,313			255,029			305,337			124,920
Steel of West Virginia		79,168			97,276			165,696			192,732			86,528
Total Shipments (Tons)		3,203,200			3,265,166			6,458,794			6,610,314			3,255,594

External Shipments (Tons)		2,753,117			2,756,922			5,556,686			5,626,243			2,803,569

Steel Mill Production (Tons)		2,802,086			2,898,629			5,794,104			5,837,661			2,992,018

Metals Recycling
Nonferrous shipments (000's of pounds)		304,017			279,763			593,453			565,600			289,436
Ferrous shipments (Gross tons)		1,507,229			1,520,164			2,960,848			2,972,985			1,453,619
External ferrous shipments (Gross tons)		591,120			577,979			1,128,093			1,145,382			536,973
Steel Fabrication
Average sales price (Per ton)	$	2,978		$	4,384		$	3,055		$	4,698		$	3,141
Shipments (Tons)		159,069			177,819			302,911			350,840			143,842

Effective the fourth quarter 2023, we added a new reporting segment, Aluminum Operations. All prior periods presented have been recast to reflect those changes.

Includes Heartland, The Techs and United Steel Supply operations

Cover	Jul. 17, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 17, 2024
Entity File Number	0-21719
Entity Registrant Name	STEEL DYNAMICS, INC.
Entity Central Index Key	0001022671
Entity Tax Identification Number	35-1929476
Entity Incorporation, State or Country Code	IN
Entity Address, Address Line One	7575 West Jefferson Blvd
Entity Address, City or Town	Fort Wayne
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46804
City Area Code	260
Local Phone Number	969-3500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock voting, $0.0025 par value
Trading Symbol	STLD
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false