Steel Dynamics increased its profit to $534 million in the second quarter

This was due to record steel shipments and higher prices

According to its second-quarter results, US steelmaker Steel Dynamics’ net revenue rose by a third compared with the same period last year, reaching $6.1 billion. Net profit stood at $534 million. Adjusted EBITDA amounted to $921 million. This is stated in the company’s report.

The main driver of growth was record steel shipment volumes, which reached 3.7 million tonnes. Operating profit in the steelmaking segment increased by 30% compared with the first quarter, reaching $721 million. The average selling price of steel rose by $105 – to $1,298 per tonne, whilst scrap costs increased by only $16 to $412 per tonne, which helped to widen margins.

Strong demand was driven by the energy sector, the automotive industry, commercial construction, US government infrastructure programmes, as well as the curbing of imports through trade restrictions and tariffs.

Overall, for the first half of 2026, the company’s net revenue reached $11.3 billion (compared with $8.9 billion a year earlier), whilst net profit almost doubled to $938 million ($6.47 per share).

In the second quarter, Steel Dynamics generated $428 million in operating cash flow, allocated $124 million to capital expenditure, paid out $77 million in dividends and repurchased $200 million worth of its own shares, maintaining liquidity at $2.0 billion. Despite the strong results, the company’s shares fell by approximately 2% in over-the-counter trading.

As reported by GMK Center, between January and May, shipments of steel products by US steel mills reached 39 million tonnes, up 4.6% on the same period in 2025. Supplies of corrosion-resistant sheet and strip rose by 13% year-on-year over the period, whilst hot-rolled steel rose by 6% and cold-rolled steel fell by 1% year-on-year.