Steel Dynamics's plant in Sinton, Texas, is facing production challenges and is expected to end the year at a 70% operating rate, below earlier targets. Unplanned shutdowns, such as equipment failures, are among the reasons for the production delays.

The company expects to produce 2.4 million tons in 2024. It primarily serves the automotive industry and industries in the Mid-South, Gulf Coast, and South Atlantic regions of the United States. Since most of the automotive business is with European and Asian companies, the UAW strike had little impact on Steel Dynamics.

On the financial side, Steel Dynamics reported a decline in its net income and operating income in the third quarter of 2023 due to lower steel prices.