Value Investing Case Study 08-2: I drafted my Seeking Alpha article Steel Dynamics: Wait for the coming price decline in Dec 2020 based on the information in Part 1 and 2 of this case study. The valuation was based on the 2020 data set from Damodaran that was updated on 8 Jan 2021. However, to ensure consistency between this case study and the Seeking Alpha article, I have maintained the 2020 valuation data for this case study. Since the publication of this post on 17 Jan 2021, the company has released its 2020 financial statements. An updated article incorporating this info has been published as Case Study 08-3. Revision date: 12 May 2021.