SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

CRAWFORD THOMAS J

(Last)

(First)

(Middle)

P.O. BOX 13948

(Street)

ROANOKE

24038-3948

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/11/2006

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	16,010⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock option - right to buy	04/11/2006	12/04/2007	Common Stock	4,433⁽²⁾	$11.42	D
Stock option - right to buy	04/11/2006	02/02/2009	Common Stock	4,433⁽²⁾	$14.02	D

Explanation of Responses:

1. The 16,010 shares of Steel Dynamics (SDI) common stock were received by Mr. Crawford as part of the merger consideration, in exchange for 40,025 shares of Roanoke Electric Steel Corporation ("Roanoke") common stock formerly held by Mr. Crawford, regarding the merger of Roanoke with and into a wholly-owned subsidiary of SDI, effective April 11, 2006. Mr. Crawford's disposition of his Roanoke shares in accordance with the terms of the merger agreement was approved in advance of closing by the Roanoke board of directors, and Mr. Crawford's acquisition of his SDI shares in exchange therefor, was approved in advance of closing by the board of directors and Compensation Committee of SDI, all in accordance with the requirements of the exemption described by SEC Rule 16b-3(d), as interpreted by the SEC in Skadden, Arps, Slate, Meagher & Flom LLP (January 12, 1999), from the short-swing profits rules of Section 16(b) of the Exchange Act.

2. The stock option to purchase 4,433 shares of common stock of SDI at $11.42 per share, expiration December 4, 2007, and the option to purchase 4,433 shares at $14.02 per share, expiration February 2, 2009, were received by Mr. Crawford, incident to the merger of Roanoke with and into a wholly-owned subsidiary of SDI, effective April 11, 2006. Mr. Crawford's former Roanoke options, for 6,000 shares each, were assumed by and exchanged for stock options of SDI, as required by the merger agreement. Mr. Crawford's disposition of his Roanoke stock options was approved in advance by the board of directors of Roanoke, and the issuance of SDI stock options (and the underlying SDI shares) in exchange was likewise approved in advance by SDI's Board in accordance with the exemption from Section 16(b) described by SEC Rule 16b-3(d), as interpreted by the SEC in Skadden, Arps, Slate, Meagher & Flom LLP (January 12, 1999).

Remarks:

	T. Joe Crawford	04/17/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.