Steel Mills

Steel Dynamics guides to more metal, more money in Q3
Written by Laura Miller
September 16, 2025
Steel Dynamics Inc. (SDI) is bullish heading into the close of the third quarter.
The Fort Wayne, Ind.-based steel and aluminum producer expects Q3’25 earnings of $2.60-$2.64 per diluted share, a notable increase from $2.01 in Q2’25 and $2.05 a year ago.
All three operating segments are tracking higher, SDI said in earnings guidance released on Monday.
Steel operations and metals recycling are leading the charge. SDI cited strong shipments and wider metal spreads, with scrap costs falling faster than steel pricing.
Fabrication earnings are rising too, thanks to higher volumes, firm pricing, and strong backlogs.
SDI sees tailwinds from US infrastructure spending and onshoring, with the company’s joists, deck, flat-rolled, and long products all set to benefit.
It noted that non-residential construction, automotive, energy, and industrial sectors are driving demand.
On the aluminum side, commissioning continues at the new Aluminum Dynamics Inc. flat-rolled mill in Columbus, Miss., and slab center in San Luis Potosi, Mexico. The company noted that the cast houses and hot-strip mill are outperforming early expectations.
SDI’s full Q3’25 earnings report will be released on Oct. 20.
Laura Miller
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