EAF metals producer
Steel Dynamics, Inc.
Steel Dynamics melts recycled scrap in electric arc furnaces to make flat-roll and long steel products, while also selling nonresidential building components, recycled metals, and aluminum. Scrap, industrial gases, energy, and rail logistics are key inputs, and demand from manufacturing, automotive, and construction markets drives revenue.
Business categories Advanced Structural & Industrial Materials · Industrial Materials & Chemicals · primary
STLD Updated Sep 23, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, Steel Dynamics, Inc. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 3 companies within two hops; the links are backed by 6 dated sources, 1 of them primary filings (as of 2026-09-23).
Financials & Segments
- Total revenue · FY2025 total revenue of $18.176581 billion
- Segments · Steel operations · Metals recycling · Steel fabrication · Aluminum
Revenue from
- U.S. nonresidential construction customers High confidence· Revenue share 8 percent · FY2025 · Steel fabrication operations serving nonresidential construction customers as a share of consolidated net sales
New Millennium Building Systems supplies joists and deck to steel fabricators, contractors, developers, and related buyers. The segment represented 8% of FY2025 consolidated sales, with demand supported by data centers, manufacturing facilities, warehouses, and healthcare projects.Mentions KO Kiwoom Securities Research Center Published Dec 8, 2025: Steel Dynamics (STLD.US): A Leading U.S. EAF Steelmaker - North American automakers High confidence
Flat-roll and processed products serve the automotive market, and the new aluminum rolling operation has qualified hot-rolled coils for automotive applications. Revenue by individual automaker is not disclosed.Mentions EN International Council on Clean Transportation Published Sep 17, 2024: Which automakers are shifting to green steel?
Pays to
- Air Liquide Medium confidence
Air Liquide supplies oxygen, nitrogen, and argon under a long-term agreement for the Sinton, Texas, electric arc furnace mill. Contract payments were not disclosed.Confirms EN Air Liquide Published Jul 7, 2020: Air Liquide signs long-term supply agreement with Steel Dynamics, Inc. (SDI) in the U.S. - CSX Corporation Medium confidence
CSX is designated as the final rail carrier for scrap deliveries to Steel Dynamics' Engineered Bar Division in Pittsboro. Freight spend and annual volume are not disclosed.Confirms EN Steel Dynamics Published Nov 4, 2024: Iron & Steel Scrap Specifications Manual: Sales, Terms, and Conditions
Investments
- New Process Steel, L.P. High confidence· Amount $229M · 2025 acquisition · Cash paid for the remaining 55% interest in New Process Steel
Steel Dynamics acquired the remaining 55% of New Process Steel for $228.935 million in cash in December 2025, increasing ownership from 45% to 100%. Total consideration, including the fair value of the previously held stake, was $449.301 million.Confirms EN Steel Dynamics Investor Relations Published Dec 1, 2025: Steel Dynamics Completes Acquisition of the Remaining 55% Ownership Interest in New Process Steel
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Steel Dynamics, Inc. | node | +71.4 | +60.1 | +22.8 | -2 | +50.7 | +43.6 |
| CSX Corporation | benef1 | +25.7 | -16.6 | +13.5 | -5.6 | +14.1 | +31.6 |
| Air Liquide | benef1 | +14.3 | +8.1 | +21.1 | +8.7 | -4.6 | +20.7 |
| Wabtec Corporation | benef2 | +26.5 | +9.1 | +28 | +50.1 | +13.2 | +34.2 |
YTD as of 2026-09-04 · source: Yahoo Finance
Steel Dynamics, Inc. operates across EAF metals producer. It is up +43.6% in 2026. The stock (+43.6%) and its supply side (avg +29.4%) are moving in step. Among connected nodes the furthest ahead is CSX Corporation (+37.5%) and the furthest behind is Air Liquide (+21.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Scrap, industrial gases, energy, and rail logistics are key inputs, and demand from manufacturing, automotive, and construction markets drives revenue.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple