Steel Dynamics, Inc

Steel Dynamics is a U.S.-based industrial metals company with operations across the United States and Mexico. Its business spans steelmaking, metals recycling, steel fabrication, and recycled aluminum flat rolled products, supported by a circular manufacturing model that uses recycled scrap as a primary input.

11,2 %

13,2 %

6,5 %

+3,6 %

3.06

1.29

— Steel Dynamics, Inc
%
Steel operations70% Manufacture and sale of flat rolled, long, and coated steel products.
Metals recycling11% Ferrous and nonferrous scrap processing, brokerage, transport, and marketing.
Steel fabrication8% Joist, deck, and structural fabrication for non-residential construction.
Aluminum operations11% Recycled aluminum flat rolled products and related finishing operations.

Steel Dynamics sells to a broad mix of industrial and construction customers that need steel, scrap services, or...

  • Steel service centersprimary

    Buy flat rolled and long steel for distribution and value-added processing.

  • Non-residential constructionprimary

    Buy joists, deck, girders, and structural products for buildings and facilities.

  • Automotive and industrial manufacturerssecondary

    Buy steel and aluminum flat rolled products for parts, components, and packaging.

  • Agriculture, appliance, and roofing/siding customerssecondary

    Buy coated and pre-painted sheet products for end-use fabrication and assembly.

  • Rail and infrastructure customerssecondary

    Buy specialty long products and rail-related steel for transportation networks.

Steel Dynamics operates facilities throughout the United States and Mexico, with a large domestic manufacturing and...

  • •Primary manufacturing base is in the United States
  • •Steel fabrication plants are spread across the U.S. and Northern Mexico
  • •Aluminum mill is located in Columbus, Mississippi
  • •Satellite aluminum slab centers are in Central Mexico and the Southwest U.S.
  • •North American footprint supports scrap sourcing and customer proximity

Steel Dynamics focuses on a diversified metals platform that combines steelmaking, recycling, fabrication, and aluminum...

01
Grow recycled aluminum operationsmedium-term

Adds end-market diversification and extends the recycling-based platform.

02
Increase value-added steel mixmedium-term

Reduces commodity exposure and supports pricing through differentiated products.

03
Strengthen downstream fabricationmedium-term

Improves customer stickiness and captures more of the construction value chain.

04
Optimize integrated scrap sourcing and logisticsshort-term

Supports lower-cost feedstock and efficient mill supply across the network.

Steel Dynamics is exposed to cyclical demand in steel, aluminum, and the end markets it serves, especially construction...

high

Cyclical end-market demand

Steel and aluminum sales depend on construction, automotive, and industrial activity.

Scope
Steel, aluminum, and fabrication segments
Materiality
high
high

Scrap and input cost volatility

Scrap metal is a major cost component and pricing may not fully pass through.

Scope
Steelmaking and recycling operations
Materiality
high
high

Import competition

Foreign steel and aluminum imports can reduce domestic pricing and volumes.

Scope
U.S. steel operations
Materiality
high
medium

Growth project execution

New facilities and product lines require successful commissioning and market acceptance.

Scope
Aluminum expansion and new capacity
Materiality
medium
medium

Cybersecurity and operational disruption

System failures or attacks could halt production, delay shipments, or expose data.

Scope
Enterprise IT and operating technology
Materiality
medium
Revenue recognition timing
Affects quarterly revenue timing and comparability across segments
Inventory valuation and metal spreads
Can materially affect gross profit and working capital
Long-lived asset impairment
Could create non-cash charges in downturns
Goodwill
Potential impairment if market conditions deteriorate

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: 11/08/2026