EXHIBIT 23.1

INDEPENDENT AUDITORS' CONSENT

We consent to the incorporation by reference in the Registration Statements of
Steel Dynamics, Inc. (Forms S-8 Nos. 333-19541, 333-27549 and 333-55888 and Form
S-3 No. 333-82210) of our report dated January 31, 2002, except for Note 3, as
to which the date is March 26, 2002, and Note 7, as to which the date is March
7, 2002 with respect to the consolidated financial statements of Steel Dynamics,
Inc. included in the Annual Report (Form 10-K) for the year ended December 31,
2001.



/S/ Ernst & Young LLP
Fort Wayne, Indiana
March 28, 2002