EXHIBIT 5.1

                              Barrett & McNagny LLP
                              215 East Berry Street
                            Fort Wayne, Indiana 46802




October 17, 2002



Steel Dynamics, Inc.
6714 Pointe Inverness Way, Suite 200
Fort Wayne, Indiana   46804

Gentlemen:


We have acted as counsel to Steel Dynamics, Inc., an Indiana corporation (the
"Company"), in connection with the Registration Statement on Form S-4 (the
"Registration Statement") filed by the Company with the Securities and Exchange
Commission under the Securities Act of 1933, as amended (the "Securities Act"),
relating to the registration by the Company of $200,000,000 aggregate principal
amount of its 9 1/2% Senior Notes due 2009 (the "Exchange Notes") and the
guaranties of the payment of interest on and principal of the Exchange Notes
(together, the "Guaranties") by the Company's Subsidiaries SDI Investment
Company, STLD Holdings, Inc., Ferrous Resources, LLC and Dynamic Bar Products,
LLC (each a "Guarantor"). The Exchange Notes and Guaranties are proposed to be
issued in accordance with the provisions of the indenture (the "Indenture"),
dated as of March 26, 2002, between the Company and Fifth Third Bank as Trustee.


In connection with rendering the opinions set forth below, we have examined the
Registration Statement, the Prospectus contained therein, the Indenture, which
is filed as an exhibit to the Registration Statement, the Articles of
Incorporation and Bylaws of the Company and resolutions adopted by the Board of
Directors of the Company, and we have made such other investigation as we have
deemed appropriate. We have examined and relied on certificates of public
officials. We have not independently established any of the facts so relied on.


For purposes of this opinion letter we have assumed that each document submitted
to us is accurate and complete, that each such document that is an original is
authentic, that each such document that is a copy conforms to an authentic
original, and that all signatures (other than signatures on behalf of the
Company) on each such document are genuine. We have further assumed the legal
capacity of natural persons, and we have assumed that each party to the
documents we have examined or relied on (other than the Company) has the legal
capacity or authority and has satisfied all legal requirements that are
applicable to that party to the extent necessary to make such documents
enforceable against that party. We have not verified any of these assumptions.



Based on the foregoing, and subject to the foregoing and the additional
qualifications and other matters set forth below, it is our opinion that the
Exchange Notes and Guaranties, when (a) the Company's outstanding 9 1/2% Notes
Due 2009 have been exchanged in the manner described in the Registration
Statement, (b) the Exchange Notes and Guaranties have been duly executed,
authenticated, issued and delivered in accordance with the terms of the
Indenture, (c) the Indenture has been duly qualified under the Trust Indenture
Act of 1939, as amended, and (d) applicable provisions of "blue sky" laws have
been complied with, will constitute valid and binding obligations of the Company
enforceable against the Company in accordance with their terms, under the laws
of the State of New York which are expressed to govern the same, except as the
enforcement thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium (including, without limitation, all laws relating to fraudulent
transfers), other similar laws relating to or affecting enforcement of
creditors' rights generally, general principles of equity (regardless of whether
enforcement is considered in a proceeding in equity or at law) and limitations
of the waiver of rights under usury laws, and will be entitled to the benefits
of the Indenture.



We express no opinion as to the validity, legally binding effect or
enforceability of any related provisions of the Indenture or the Exchange Notes
or Guaranties that require or relate to payment of any interest at a rate or in
an amount which a court would determine in the circumstances under applicable
law to be commercially unreasonable or a penalty or a forfeiture. In addition,
we express no opinion as to the validity, legally binding effect or
enforceability of the waiver of rights and defenses contained in the Indenture.





We are furnishing this opinion letter to you solely in connection with the
registration under the Securities Act by the Company of the Exchange Notes and
Guaranties. You may not rely on this opinion letter in any other connection, and
it may not be furnished to or relied upon by any other person, other than
purchasers of the Exchange Notes, for any purpose, without our specific prior
written consent.


The foregoing opinions are rendered as of the date of this letter.


We hereby consent to the reference to us in the Registration Statement under the
caption "Legal Matters" and to the filing of this opinion as an exhibit to the
registration statement.


Very truly yours,

/s/ BARRETT & McNAGNY LLP