Edgar Filing: RUFFOLO JOSEPH D

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

RUFFOLO JOSEPH D

2. Issuer Name and Ticker or Trading Symbol
STEEL DYNAMICS INC [STLD]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

2820 CHICHESTER LANE

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2005

(Street)

FORT WAYNE, IN 46815

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/23/2005		M⁽¹⁾		1,500	A	$ 10	3,500 ⁽²⁾	D
Common Stock	02/23/2005		M⁽¹⁾		1,509	A	$ 9.94	5,009	D
Common Stock	02/23/2005		M⁽¹⁾		1,065	A	$ 14.09	6,074	D
Common Stock	02/23/2005		M⁽¹⁾		1,451	A	$ 10.34	7,525	D
Common Stock	02/23/2005		S		1,219	D	$ 42.4	6,306	D
Common Stock	02/23/2005		S		1,400	D	$ 42.41	4,906	D
Common Stock	02/23/2005		S		1,000	D	$ 42.5	3,906	D
Common Stock	02/23/2005		S		206	D	$ 42.51	3,700	D
Common Stock	02/23/2005		S		1,700	D	$ 42.55	2,000 ⁽²⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Employee Director Stock Option (right to buy) ⁽³⁾

$ 10

05/21/2000

1,500

11/21/2000

05/21/2005

Common Stock

1,500

$ 0

Non-Employee Director Stock Option (right to buy) ⁽³⁾

$ 9.94

11/21/2000

1,509

05/21/2001

11/21/2005

Common Stock

1,509

$ 0

Non-Employee Director Stock Option (right to buy) ⁽³⁾

$ 14.09

05/21/2001

1,065

11/21/2001

05/21/2006

Common Stock

1,065

$ 0

Non-Employee Director Stock (right to buy) ⁽³⁾

$ 10.34

11/21/2001

1,451

05/21/2002

11/21/2006

Common Stock

1,451

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
RUFFOLO JOSEPH D 2820 CHICHESTER LANE FORT WAYNE, IN 46815	X

Signatures

Joseph D. Ruffolo		02/25/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Acquisition of stock pursuant to exercise of option, granted pursuant to Non-Employee Director Stock Option Plan approved by stockholders, exempt under Rule 16b-6(b).
(2)	Does not include 1,000 shares of common stock held by reporting person's retirement trust (indirect) and 1,300 shares of stock held by reporting person's spouse (indirect). Reporting person disclaims beneficial ownership of these shares.
(3)	Grant exempt under Rule 16b-3(d)(2). Exercise exempt under Rule 16b-6.

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