Steel Dynamics' second-quarter profit jumps on record shipments, improved pricing

Steel Dynamics

20/07/2026 22:01

    July 20 (Reuters) - Steel Dynamics STLD.O posted a jump in second-quarter profit on Monday, helped by record steel shipments and stronger pricing.
U.S. steel imports stayed near multi-year lows as tariffs and trade restrictions curbed inbound volumes, while manufacturing onshoring, infrastructure investment, and increasingly regionalized supply chains supported domestic production.
Strong local demand, coupled with tight supply, has helped U.S. steelmakers benefit from a rise in steel prices.
The Fort Wayne, Indiana-based company reported profit per share of $3.69 for the quarter ended June 30, compared with $2.01 a year earlier.
The profit included a $16 million charge from asset writedowns related to the planned relocation of an aluminum recycling facility.

        Quarterly revenue rose by a third to $6.09 billion from a year ago, led by a record 3.7 million tons of steel shipments.
Steel Dynamics' shares, however, were down about 2% in extended trading.

 (Reporting by Megavarshini G. Somasundaram and Nandan Mandayam in Bengaluru; Editing by Diti Pujara)
 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))