08:28 AM EDT, 06/17/2024 (MT Newswires) -- Steel Dynamics ( STLD ) said Monday that it expects Q2 earnings of $2.64 to $2.68 per diluted share, down from $4.81 a year earlier.

Analysts polled by Capital IQ are expecting $3.01 per share.

The company said that the domestic steel market is still in demand, despite consumers' reluctance to purchase steel due to a weakening environment for scrap prices.

Shares of Steel Dynamics ( STLD ) were down 2% in recent Monday premarket activity.

Price: 118.29, Change: -2.40, Percent Change: -1.99