Steel Dynamics Announces Third Quarter Cash Dividend and Provides Third Quarter Earnings Guidance

FORT WAYNE, Ind., Sept. 12, 2011 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ
/GS: STLD) today announced that its board of directors has declared a quarterly
cash dividend of $0.10 per common share. The dividend is payable on or about
October 14, 2011, to shareholders of record at the close of business on
September 30, 2011.

The company also expects third quarter earnings to be in the range of $0.18 to
$0.22 per diluted share, higher than third quarter 2010 earnings of $0.09 per
diluted share, but lower than second quarter 2011 earnings of $0.43 per diluted
share, primarily due to the substantial drop in anticipated third quarter flat
rolled earnings. Despite the continuation of relatively low service-center
inventory levels, flat rolled demand during July and August did not materially
improve, pricing remained a challenge, and the cost of raw materials,
specifically steel scrap, did not decline in step with steel prices, all of
which resulted in reduced third quarter margins. In contrast, earnings
contributed by the company’s long product steel operations for the third quarter
are expected to improve based on increased volumes and expanding margins, most
notably for the company’s special-bar-quality steels.

Earnings from the company’s metals recycling and ferrous resources and
fabrication operations are expected to be consistent with those achieved in the
second quarter 2011. Overall, renewed uncertainty within the U.S. and global
economies continues to negatively impact corporate and consumer spending,
resulting in a challenging demand environment. The company believes if more
economic clarity develops throughout the remainder of the year, demand could be
expected to increase, along with steel pricing and margins which have already
started to move, with the potential to positively impact fourth quarter results,
given the low levels of existing inventories throughout the supply chain.

Forward-Looking Statements

This press release contains some predictive statements about future events,
including statements related to conditions in the steel and metallic scrap
markets, Steel Dynamics’ revenue, costs of purchased materials, future
profitability and earnings, and the operation of new or existing facilities.
These statements are intended to be made as “forward-looking,” subject to many
risks and uncertainties, within the safe harbor protections of the Private
Securities Litigation Reform Act of 1995. Such predictive statements are not
guarantees of future performance, and actual results could differ materially
from our current expectations.

Factors that could cause such predictive statements to turn out other than as
anticipated or predicted include, among others: the effects of prolonged or
deepening recession on industrial demand; general or specific sector (i.e.,
automotive, consumer appliance or construction) economic conditions affecting
steel consumption; the impact of price competition, whether domestic or the
result of foreign imports; difficulties in integrating acquired businesses;
risks and uncertainties involving new products or new technologies; changes in
the availability or cost of steel scrap or substitute materials; increases in
energy costs; occurrence of unanticipated equipment failures and plant outages;
labor unrest; and the effect of the elements on production or consumption.

More specifically, we refer you to SDI’s detailed explanation of these and other
factors and risks that may cause such predictive statements to turn out
differently, as set forth in our most recent Annual Report on Form 10-K, in our
quarterly reports on Form 10-Q or in other reports which we from time to time
file with the Securities and Exchange Commission, available publicly on the SEC
Web site, www.sec.gov, and on the Steel Dynamics Web site, www.steeldynamics.com

Forward-looking or predictive statements we make are based upon information and
assumptions, concerning our businesses and the environments in which they
operate, which we consider reasonable as of the date on which these statements
are made. Due to the foregoing risks and uncertainties however, as well as,
matters beyond our control which can affect forward-looking statements, you are
cautioned not to place undue reliance on these predictive statements, which
speak only as of the date of this press release. We undertake no duty to update
or revise any forward-looking statement, whether as a result of new information,
future events or otherwise.

SOURCE Steel Dynamics, Inc.