Steel Dynamics Inc has provided first quarter 2022 earnings guidance in the range of USD 5.55-5.59 per diluted share. Excluding the impact from costs associated with the startup of the company's Sinton Texas Flat Roll Steel Mill growth investment of an estimated USD 83 million, the company expects first quarter 2022 adjusted earnings to be in the range of USD 5.85-5.89 per diluted share. First quarter 2022 profitability from the company's steel operations is expected to be historically strong, but significantly lower than record fourth quarter 2021 results, driven by lower earnings from the company's flat roll steel operations, as average expected flat roll pricing is expected to decline by more than 10 percent, more than offsetting anticipated higher shipments and lower average scrap prices. Flat roll steel prices have recently firmed with extending lead-times and expectations for further improvements based on higher input costs and global flat roll steel supply disruptions, coupled with a continuing strong demand environment. The automotive, construction, and industrial sectors continue to lead steel demand.First quarter 2022 earnings from the company's metals recycling operations are expected to be aligned with sequential fourth quarter results, based on improved metal margins offsetting modestly lower volume.First quarter 2022 earnings from the company's steel fabrication operations are expected to almost double sequential record fourth quarter results, as significantly higher selling values and strong shipments, more than offset marginally higher steel input costs. The non-residential construction sector remains strong as evidenced by robust order activity, resulting in a historically strong order backlog with record forward-pricing for the company's steel fabrication platform. The company anticipates this momentum to continue through 2022 based on these dynamics.