Steel Mills

SDI To Join S&P 500 Index

Written by Becca Moczygemba

December 20, 2022

Steel Dynamics Inc. (SDI) is joining the S&P 500® index. The addition goes into effect prior to market opening on Thursday, Dec. 22.

SDI was founded in 1993 and began producing steel in 1996 at its first mill in Butler, Ind. The steelmaker’s most recent facility in Sinton, Texas, was constructed in 2021. The Texas mill has the capacity to produce 3 million short tons per year, and increased SDI’s production capacity by 25%.

“It is a great honor to be selected for inclusion in the S&P 500 index,” Mark D. Millett, SDI’s chairman, president, and CEO, said in a statement. “Since our founding almost 30 years ago, the Steel Dynamics team has created a best-in-class, innovative company that is committed to operating with the highest integrity. We thank all of those that contribute to our success – our loyal customers, vendors, communities, and shareholders. My heartfelt thanks also go to our extraordinary team members for their passion, innovation, and dedication to each other and to a spirit of excellence.”

By Becca Moczygemba, Becca@SteelMarketUpdate.com

 

Becca Moczygemba

Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.

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