<SUBMISSION>
<ACCESSION-NUMBER>0001209191-04-032616
<TYPE>4/A
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>19971229
<FILING-DATE>20040623
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>STEEL DYNAMICS INC
<CIK>0001022671
<ASSIGNED-SIC>3312
<IRS-NUMBER>351929476
<STATE-OF-INCORPORATION>IN
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>6714 POINTE INVERNESS WAY
<STREET2>SUITE 200
<CITY>FORT WAYNE
<STATE>IN
<ZIP>46804
<PHONE>2604593553
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>6714 POINTE INVERNESS WAY
<STREET2>SUITE 200
<CITY>FORT WAYNE
<STATE>IN
<ZIP>46804
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>BATES JOHN C
<CIK>0001027286
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4/A
<ACT>34
<FILE-NUMBER>000-21719
<FILM-NUMBER>04878088
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>640 LAVOY ROAD
<CITY>ERIE
<STATE>MI
<ZIP>48133
<PHONE>7348482172
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>640 LAVOY ROAD
<CITY>ERIE
<STATE>MI
<ZIP>48133
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>bny96136_bny1jcb.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>1997-12-29</periodOfReport>

    <dateOfOriginalSubmission>2004-03-31</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001022671</issuerCik>
        <issuerName>STEEL DYNAMICS INC</issuerName>
        <issuerTradingSymbol>STLD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001027286</rptOwnerCik>
            <rptOwnerName>BATES JOHN C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HEIDTMAN STEEL PRODUCTS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>640 LAVOY RD.</rptOwnerStreet2>
            <rptOwnerCity>ERIE</rptOwnerCity>
            <rptOwnerState>MI</rptOwnerState>
            <rptOwnerZipCode>48133</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>1997-12-29</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>680073</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2237066</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote.</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Amends previous erroneous March 31, 2004 reporting of two separate sale and purchase transactions on this date, replacing both with the single non-cash distribution transaction reported herein.</footnote>
        <footnote id="F2">Liquidating non-cash distributions in kind by Keylock Investments Ltd. of 680,073 shares of Steel Dynamics, Inc. common stock to non-reporting minority stockholders of Keylock Investments Ltd. not affiliated with John Bates, and 2,237,066 shares of common stock to Heidtman Steel Products, Inc., which John Bates controls and which previously controlled Keylock Investments Ltd. The latter distribution involves a mere change in John Bates' form of beneficial ownership, which is exempt under Rule 16(a)-13.</footnote>
        <footnote id="F3">Through control of Heidtman Steel Products, Inc. and Centaur, Inc. which hold these shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John C. Bates</signatureName>
        <signatureDate>2004-06-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
