Steel Dynamics informed yesterday that third-quarter profit fell by more than 54 per cent, partly as a result of higher energy costs and disruptions from Hurricane Katrina.

Net earnings were $45 million or 92 cents per share, compared with $114 million, or $2.01 per share, in the third quarter last year. Analysts were on average expecting 92 cents, according to Reuters Estimates.

Last month, Steel Dynamics suspended orders for cold rolled, galvanized and sheet products after its hydrogen supplier, Air Products, said it could not meet supply commitments due to an outage at its New Orleans hydrogen plant following Hurricane Katrina and a two-month shutdown at a plant in Canada.