8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) October 24, 2006

RYERSON INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-9117	36-3425828
(Commission File Number)	(I.R.S. Employer Identification No.)

2621 West 15th Place, Chicago, Illinois 60608

(Address Of Principal Executive Offices, including Zip Code)

(773) 762-2121

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Item 7.0l Regulation FD Disclosure

The Registrant is furnishing slides containing the information included in Exhibit 99.1 to this report, that have been prepared for a joint press conference of the Registrant and Van Shung Chong Holdings Limited, regarding their proposed joint venture in China. Van Shung Chong Holdings Limited is a Hong Kong Exchange listed company. The press conference is scheduled to be held at 11 a.m. (Hong Kong time) on Wednesday, October 25, 2006, in Hong Kong.

The information contained in this report, including Exhibit 99.1, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, unless this report is specifically incorporated by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.

Cautionary Statements regarding Presentation

This filing contains historical information as well as estimates and other forward-looking statements (that is, statements that are not historical facts) that are based on assumptions and on anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The principal risk factors that may cause actual results to differ materially from those expressed in the forward statements are described in various documents Registrant files with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K for the year ended December 31, Quarterly Report on Form 10-Q for the most recent quarter and Current Reports on Form 8-K.

The Registrant expressly disclaims any obligation to update the presentation contained in Exhibit 99.1 of this Report and cautions that the information is only accurate on the date of filing. The inclusion of any data or statements in this presentation does not signify that the information is considered material.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RYERSON INC.
Dated: October 24, 2006	/s/ Lily L. May
	By:	Lily L. May
	Its:	Vice President, Controller and
		Chief Accounting Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Slide Presentation dated October 2006

EX-99.1

Joint Press Conference

25 October 2006

Partnership to strengthen position in the rapidly growing

Chinese steel industry

Joint Press Conference

Joint Press Conference

25 October 2006

25 October 2006

Partnership to strengthen position in the rapidly growing

Partnership to strengthen position in the rapidly growing

Chinese steel industry

Chinese steel industry

EXHIBIT 99.1

Agenda

•

An overview of the partnership

•

Reasons for the partnership

•

About VSC-Ryerson China

About The Partnership

--

VSC-Ryerson China

Pursuant to VSC shareholders’

approval, VSC will commence its

partnership

with

Ryerson

on

the

Venture

—

VSC-Ryerson

China,

which

will

be engaged in the processing of steel/metal products to supply to

manufacturers in the PRC and export fabricated products to USA

customers.

VSC

Venture

Before

100%

VSC

Ryerson

Pan-Pacific

LLC

Venture

After

60%

40%

Ryerson acquires a 40%

stake in the enlarged share

capital of VSC-Ryerson

China for a consideration of

approx.  US$28.5 million

in cash

Proposed JV Structure

Current Organizational Chart

VSC

China Advanced

Materials

Processing

(“CAMP”)

Construction

Materials Group

(“CMG”)

Steel Service

Centers

Enclosure

Systems

Manufacturing

Plastics Distribution

Construction

Materials

Distribution

Building Products

Dongguan

Tianjin

(95% owned)

Guangzhou

(70% owned)

Nansha

(14% owned)

Proposed JV Structure

JV Organizational Chart

VSC

China Advanced

Materials Processing

(“CAMP”)

Construction

Materials Group

(“CMG”)

Enclosure Systems

Manufacturing

Plastics Distribution

Construction Materials

Distribution

Building Products

JV

Steel Service

Centers

Dongguan

Tianjin

(95% owned)

Guangzhou

(70% owned)

Kunshan

(End 06)

Nansha

(14% owned)

Ryerson

Ryerson

Pan-Pacific LLC

Agenda

•

An overview of the partnership

•

Reasons for the partnership

•

About VSC-Ryerson China

About Ryerson

•

Ryerson is North America’s leading distributor and processor of

metals

–

2005 revenue amounted to US$5.8 billion

–

A metals distributor founded over 160 years ago (1842); Ryerson

services customers through a network of 130 service centers in

the U.S., Canada, Mexico and India

–

With a listing on the NYSE (Ticker Symbol: RYI)

•

Products and services include:

Stainless

Carbon & Alloy

Brass & Copper

Fabrication

Aluminum

Nickel Alloys

VSC

Carbon

Flat

Rolled &

Coated

Products

+600

4

$0.150

PRC JV

Tata

Steel

Carbon Flat

Rolled &

Coated

Products,

Rebar,

Fabrication

+1200

5

$0.160

India JV

Carbon Flat

Rolled &

Coated

Products,

Construction

Products,

Re-Bar

Structurals,

Alloy bar,

Fabrication

Stainless,

Aluminum,

Carbon Flat

Rolled &

Coated

Products,

Construction

Products,

Structurals,

Tubing,

Alloy bar,

Fabrication

Products

+900

+5,000

Employees

G. Collado

4

$0.161

Mexico JV

$5.800

Sales (BUSD, 2005)

112

Service Centers

USA/Canada

JV Partner

Ryerson Global Presence

Strategic Rationale

•

VSC expanded financial resources and capital

•

Ryerson entry point with flexibility to expand

Products

Processes

Acquisitions

Greenfield Expansion

•

Experienced Management

VSC management team with knowledge of PRC market and       

regulatory procedures

Ryerson will deploy resources to help create self sustaining

business model

Leadership development strategy to allow for local management

to run VSC-Ryerson

On going access to VSC and Ryerson resources

Cross border and best practices exchange

Access

to

specialized

resources

and

technical

advisory

•

International Account Strategy (Commercial Synergies)

PRC Manufacturing

Export of fabricated components with high labor content

•

Global Supply Chain Strategy (Purchasing Synergies)

Benefits To VSC

•

Expanded financial resources and capital

•

Expansion of the Company’s range of products and

services

•

As Ryerson’s US customers and other metal consumers

invest in manufacturing and sourcing in the PRC, the

Venture is in a unique position to support their needs

and enhance the value proposition

•

Working in conjunction with Ryerson, the Venture will be

able to improve internal efficiencies and increase speed

to market.

•

The Venture’s market position will improve as it utilizes

Ryerson’s experience in metals processing and

distribution to service the world’s largest and fastest

growing market in the world.

Benefits to Ryerson

•

Ryerson entry Point with Long Term Strategy

–

Entry Point to Learn Market

–

Accelerated Ryerson Entry into China

•

Partner with Western Business Mentality and open to adapting to

US rules and Ryerson VALUES

–

Code of Conduct

–

Financial Reporting in English

•

Experienced Partner

–

Critical in China

•

Mills

•

Government (Local and Federal)

•

State Owned Enterprises

•

Demonstrate willingness to think broadly

•

Locations of Service Centers to End Users

–

Located Close to Main Markets

Agenda

•

An overview of the partnership

•

Reasons for the partnership

•

About VSC-Ryerson China

VSC-Ryerson China

Hong Kong

Nansha

Tianjin

Dongguan

Guangzhou

Kunshan

Shanghai

•Principally engaged in three coil operation centers in Dongguan,

Guangzhou and Tianjin

•Coil operation center in Kunshan

(currently under construction)

•Owns 14% investment in the Nansha

Plant

•Offices in Hong Kong and throughout PRC

Our Goal

•

The Venture’s goal is to achieve self-sufficiency in the

following areas:

•

VSC agrees to use the Venture as its exclusive platform for all

business activities and services related to its steel service

center operations

•

Ryerson agrees to use the Venture as its exclusive platform for

growth and business development activities in China

•

Ability to provide coil

center product offerings

and services to customers

on a standalone basis (e.g.,

processing, distribution,

etc) –

subject to market and

customer requirements

•

Increase offering to include

fabrication services,

stainless/aluminum, alloy

bar and other metals

•

Increase percentage of

industry sales

•

Corporate, administration,

purchasing and customer

service

•

Expand in terms of both

number of locations and

capacity in steel

processing and fabrication

•

Capable of attaining

financing commitments

with banks and mills

•

Ability to independently

raise capital in the form of

equity or debt to fund

internal and external

growth opportunities

Sales & Marketing

Operations

Finance

Joint Press Conference

Joint Press Conference

25 October 2006

25 October 2006

Partnership to strengthen position in the rapidly growing

Partnership to strengthen position in the rapidly growing

Chinese steel industry

Chinese steel industry

VSC Ryerson Strategy

ONE ENTRY POINT

Additional Greenfield

Expansion

1  , 2  

Stage

Acquisitions

Fabrication

REGIONAL SCALE IN A

RELEVANT MARKET

Flexibility

st

nd

THE MAJORITY OF LEADING NORTH AMERICAN

COMPANIES IN OUR FOCUS SECTORS

ALREADY HAVE SOME OPERATIONS IN CHINA

Automotive

Home

appliance

GM

Ford

Delphi

Johnson

Controls

Visteon

Lear

Magna

International Inc

Whirlpool

Carrier

Maytag

Kenmore

Carrier

A.O. Smith

GE

Machinery

Construction/Agricultural

equipment

Industrial

machinery

Machine tools

Manufacturing in China

Caterpillar

John Deere

Ingersoll-Rand

Cummins

AGCO Corp

Terex Corporation

Manitowoc Company

Joy Global Inc.

JLG Industries

Astec

Industries

GE

United Technologies

Honeywell

Illinois Tool Works

Eaton Corporation

Ingersoll-Rand

Textron Inc.

Air Products and

Chemicals, Inc.

Danaher Corporation

Source:

Hoovers;

Freedonia;

Global

Industry

Analysts;

Compustat

Most of the North American leading companies in key steel-consuming sections have

moved some manufacturing capacity to China

Future growth will be driven by increasing depth/penetration of using China as

manufacturing base, rather than more companies moving operations

to China

Ingersoll-Rand

Black & Decker

Kennametal

Toro Co

Lincoln Electric Holdings

Federal Signal

Actuant

Corporation

Thermadyne

Comact

St-Georges

Hardinge