Steel Dynamics in 2022 received a revenue of $3.9 billion

The American steel producer Steel Dynamics announced the company’s financial results for 2022. This is reported by SteelOrbis.

The company’s annual net revenue in 2022 was a record $3.9 billion, compared to $3.2 billion in 2021. Net sales totaled $22.3 billion, compared with $18.4 billion in the prior year.

Annual net sales in 2022 increased by 21% y/y and operating profit – by 18%, to a record $5.1 billion compared to the previous year. The higher indicators were due to record prices for products and volumes of steel production of the company.

In 2022, the steel production of Steel Dynamics reached a record level of annual shipments of 12.2 million tons and the second largest annual operating profit of $3.1 billion. The steel structures sector shipped 856 thousand tons of products for the year, the operating profit was $2.4 billion.

Last year, compared to 2021, the average annual cost of steel products more than doubled to $4,976 per ton.

“Domestic demand for steel was stable throughout the year, mainly driven by the construction, automotive, industrial and energy sectors. For most of the year, customer steel inventories remained below historical averages, which allowed us to maintain a stable order structure,” said Mark D. Millett, the company’s chairman.

Steel Dynamics also reported $439 million in costs related to the construction and start-up of a steel plant in Sinton, Texas.

As GMK Center reported earlier, US steel enterprises in 2022 reduced imports of steel by 2% compared to 2021 – to 31.46 million tons. This is evidenced by the data of the American Iron and Steel Institute (AISI). The volume of finished products in the total volume of steel imports in the United States last year was 22.76 million tons. This is 10.9% more compared to the previous year.

  • Global Market

Turkey increased steel production by 7% y/y in April

In April 2025, steel enterprises in Turkey increased steel production by 7% compared to April…

Saturday May 31, 2025
  • Global Market

EU imposes final anti-dumping duties on tinplate from China

The European Commission (EC) has announced its decision to impose final anti-dumping duties on imports…

Friday May 30, 2025
  • Companies

Poland’s JSW exceeded plans for coal production and sales in Q1

Poland's Jastrzębska Spółka Węglowa (JSW), the largest coking coal producer in the EU, has announced…

Friday May 30, 2025
  • Global Market

Turkey increased steel exports by 14.4% y/y in April

In April, Turkey increased steel exports by 14.4% y/y – to 1.2 million tons. In…

Friday May 30, 2025
  • Global Market

The EU has almost exhausted its annual quota for imports of Russian pig iron in 3 months

In the first quarter of 2025, European companies almost exhausted the annual quota for imports…

Friday May 30, 2025
  • Companies

Nippon Steel to invest $6 billion in electric arc furnaces at three plants in Japan

Japanese steelmaker Nippon Steel plans to invest almost JPY870 billion ($6.05 billion) in the introduction…

Friday May 30, 2025