April 23 (Reuters) - Steel Dynamics ( STLD ) beat Wall

Street estimates for first-quarter profit on Tuesday, buoyed by

resilient demand and higher prices for flat-rolled steel.

Non-residential construction, automotive, energy and

industrial sectors fueled the demand, the company said.

Shares of the company, which also recycles metals, were up

1.7% in extended trading.

Adjusted profit of $3.67 per share for the quarter ended

March 31, beat analysts' average expectation of $3.51, according

to LSEG data.

The Fort Wayne Indiana-based company last month estimated

profit per share to range between $3.51 and $3.55.

However, total net sales fell 4% to $4.69 billion, falling

short of estimates of $4.74 billion.

"Underlying steel demand was steady in the quarter; however,

we experienced some steel order volatility early in the quarter

as customer inventories remain incredibly low and scrap prices

declined month over month in the quarter," CEO Mark Millett said

in a statement.

Customer orders rebounded in March, he added, supporting

increased pricing and order backlogs, especially within the

company's value-added coated flat rolled steel products

portfolio.

Average external sales pricing in the steel operations

segment rose to $1,201 per ton in the quarter, compared with

$1,076/ton a year earlier.

The steelmaker expects higher consumption in North American

in 2024 and lower imports to support steel pricing.

The company also expects to begin operations at the aluminum

flat rolled mill by mid-2025, further diversifying its product

portfolio.