STEEL DYNAMICS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)

		2004			2005			2006			2007			2008

Interest expense, including amortization of debt issuance costs		$	45,355		$	39,547		$	37,492		$	60,526		$	162,396
Capitalized interest			6,935			730			1,686			13,717			17,822

	Fixed charges (a)		52,290			40,277			39,178			74,243			180,218
Income before taxes and extraordinary items			475,033			360,626			631,555			630,238			743,813
Amortization of capitalized interest			3,729			4,073			4,814			5,069			4,670
Less capitalized interest			(6,935	)		(730	)		(1,686	)		(13,717	)		(17,822	)

	Adjusted earnings (b)		524,117			404,246			673,861			695,833			910,879

Ratio (b) / (a)			10.02x			10.04x			17.20x			9.37x			5.05x

For purposes of calculating our ratio of earnings to fixed charges, earnings consist of earnings from continuing operations before income taxes and extraordinary items, adjusted for the portion of fixed charges deducted from the earnings, plus amortization of capitalized interest. Fixed charges consist of interest on all indebtedness, including capitalized interest, and amortization of debt issuances costs.