Shares rose 1.85% to $241.85 on Wednesday, marking a fifth straight daily gain as the S&P 500 climbed 1.46% and the Dow added 1.24%.
The move topped Steel Dynamics' previous 52-week peak of $238.74, set on May 5, during a broad market rally that lifted major industrial and materials stocks.
Among peers, Nucor rose 0.93%, Cleveland-Cliffs gained 4.69% and Reliance added 1.19%, while Steel Dynamics trading volume of 961,859 stayed below its 50-day average of 1.2 million.
With its stock at a record high, can Steel Dynamics' big bet on aluminum deliver its promised growth?
U.S. steel is thriving under heavy tariffs, but how vulnerable is the industry to a future shift in trade policy?