Steel Dynamics Inc. (SDI), based in Fort Wayne, Indiana, has reported strong third-quarter 2025 results. The leading industrial metals company achieved another milestone by recording a net sales of USD 4.8 billion and net income of USD 404 million, equal to USD 2.74 per diluted share. While record steel shipments drove Q3 earnings, SDI’s recycled aluminium ventures are beginning to gain traction, with new mills in Mississippi and Mexico set to produce 650,000 tonnes annually.
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“Our teams performed exceptionally well in the third quarter, achieving strong financial performance and hitting several operating milestones while continuing to prioritise the safety and well-being of one another,” said Mark D. Millett, SDI’s Chair and CEO.
Recycled aluminium push gains momentum at SDI
The company’s recent aluminium ventures are beginning to deliver results. Millett confirmed progress at its Columbus, Mississippi, flat-rolled aluminium mill and the San Luis Potosí, Mexico, satellite recycled slab centre, both part of its USD 2.2 billion investment announced on July 19, 2022. The new mill is designed to produce 650,000 tonnes of recycled aluminium profiles annually, serving the automotive, industrial, and beverage sectors.
“The aluminium team is continuing with the successful commissioning and startup… It is an extremely exciting time for all of us,” Millett added.
SDI’s OmniSource division will supply 100 per cent of the aluminium scrap for these operations, reinforcing its closed-loop sustainability model. The company says it expects to benefit from increasing regionalisation of supply chains and a favourable US trade environment heading into 2026.
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Recycling and steel operations deliver growth
SDI’s OmniSource metals recycling division reported operating income of USD 32 million, up by USD 10 million from the previous quarter. The company attributed the gains to near-record ferrous scrap shipments and expanding metal spreads. Millett highlighted the firm’s three-year after-tax return on invested capital of 15 per cent, describing it as a testament to our ongoing high-return capital allocation strategy.
SDI’s record quarterly steel shipments came as imports declined, aided by improved performance at its Sinton, Texas, mill. The company noted that average finished steel prices rose to USD 1,119 per tonne, while ferrous scrap costs fell to USD 381 per tonne, enhancing profit margins.
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