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Steel Dynamics has forecast a strong third-quarter profit, citing increased shipments and solid demand from key markets.

The Fort Wayne, Indiana, company said its steel operations will be more profitable in the third quarter than they were in the second quarter. It also said demand from the automotive, manufacturing, energy and construction markets is improving.

The company forecast an adjusted profit of 42 to 46 cents per share. FactSet says analysts are expecting net income of 37 cents per share, on average.

The forecast excludes costs connected to Steel Dynamics' acquisition of Severstal Columbus LLC, which closed on Tuesday. Steel Dynamics bought the Ohio mini-mill from Russian steelmaker OAO Severstal for $1.63 billion.

Shares of Steel Dynamics picked up 91 cents, or 3.8 percent, to $24.85 during the day after U.S. Steel Corp. gave a strong forecast for the current quarter. U.S. Steel said its operations have performed well and steel market conditions in the United States are stable.