Exhibit 23.3

                         Consent of Independent Auditors

We consent to the reference to our firm under the caption "Experts" in
the Registration Statement (Post-Effective Amendment No. 1 to Form S-3) and
related Prospectus of Steel Dynamics, Inc. for the registration of $115,000,000
of 4% Convertible Subordinated Notes due 2012 and 7,199,024 shares of its common
stock, and to the incorporation by reference therein of our report dated January
24, 2003, (except for Note 14, as to which the date is March 14, 2003), with
respect to the consolidated financial statements of Steel Dynamics, Inc.
included in its Annual Report (Form 10-K) for the year ended December 31, 2002,
filed with the Securities and Exchange Commission.





                                                          /S/ Ernst & Young LLP

Fort Wayne, Indiana
September 16, 2003