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): August 4, 2009

Ryerson Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-09117

(Commission File Number)

36-3425828

(I.R.S. Employer Identification No.)

2621 West 15^th Place, Chicago, IL 60608

(Address of principal executive offices and zip code)

(773) 762-2121

(Registrant’s telephone number, including area code)

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 2.02. Results of Operations and Financial Condition.

The information contained within Item 2.02 of this Form 8-K and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

On August 4, 2009, Ryerson Inc. (the “Company”) released its Second Quarter and Six-Month Selected Income and Cash Flow Data. The Ryerson Inc. Second Quarter and Six-Month Selected Income and Cash Flow Data is set forth on Exhibit 99.1 attached hereto and is hereby incorporated by reference.

Item 9.01. Financial Statements and Exhibits.

d) Exhibits

The following exhibit is being filed with this Current Report on Form 8-K:

99.1 Ryerson Inc. Second Quarter and Six-Month Selected Income and Cash Flow Data

- 2 -

SIGNATURE

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.

Dated: August 4, 2009

RYERSON INC.
By:	/s/ Terence R. Rogers
Name:	Terence R. Rogers
Title:	Chief Financial Officer

- 3 -

Exhibit Index

Exhibit Number	Description
99.1	Ryerson Inc. Second Quarter and Six-Month Selected Income and Cash Flow Data

- 4 -

EX-99.1

EXHIBIT 99.1

RYERSON INC. AND SUBSIDIARY COMPANIES

Selected Income and Cash Flow Data - Unaudited

(Dollars in Millions, except Per Ton Data)

	2009						2008			First Six Months Ended
	Second			First			Second			June 30
	Quarter			Quarter			Quarter			2009			2008
NET SALES	$	743.1		$	804.7		$	1,445.7		$	1,547.8		$	2,816.0
Cost of materials sold		657.5			679.2			1,270.2			1,336.7			2,446.6
Gross profit		85.6			125.5			175.5			211.1			369.4
Warehousing, delivery, selling, general and administrative		118.2			124.1			148.1			242.3			299.1
Gain on the sale of assets		—			(3.3	)		—			(3.3	)		—
Other postretirement benefits curtailment gain		—			(1.3	)		—			(1.3	)		—
OPERATING PROFIT (LOSS)		(32.6	)		6.0			27.4			(26.6	)		70.3
Other income and (expense), net		(4.5	)		2.7			0.5			(1.8	)		3.1
Interest and other expense on debt		(18.2	)		(18.2	)		(24.2	)		(36.4	)		(55.4	)
INCOME (LOSS) BEFORE INCOME TAXES		(55.3	)		(9.5	)		3.7			(64.8	)		18.0
Provision (benefit) for income taxes		75.2			(3.2	)		1.5			72.0			6.6
NET INCOME (LOSS)		(130.5	)		(6.3	)		2.2			(136.8	)		11.4
Less: Net income (loss) attributable to noncontrolling interest		(0.5	)		(2.0	)		—			(2.5	)		—
NET INCOME (LOSS) ATTRIBUTABLE TO RYERSON INC.	$	(130.0	)	$	(4.3	)	$	2.2		$	(134.3	)	$	11.4
Supplemental Data :
Tons shipped (000)		478			461			678			939			1,379
Shipping days		64			62			64			126			128
Average selling price/ton	$	1,556		$	1,745		$	2,134		$	1,649		$	2,041
Gross profit/ton	$	179		$	272		$	259		$	225		$	268
Operating profit/ton		(68	)		13			40			(28	)		51
Depreciation and amortization expense	$	8.4		$	9.3		$	8.2		$	17.7		$	16.5
Cash flow from operating activities	$	159.3		$	194.8		$	(21.5	)	$	354.1		$	(31.1	)
Capital expenditures		(5.6	)		(7.4	)		(6.6	)		(13.0	)		(12.6	)
EBITDA (See Schedule 1 for reconciliation)	$	(28.2	)	$	20.0		$	36.1

Schedule 1

RYERSON INC. AND SUBSIDIARY COMPANIES

Reconciliation of Net Income (Loss) Attributable to Ryerson Inc. to EBITDA

(Dollars in millions)

	2009						2008
	Second			First			Second
	Quarter			Quarter			Quarter
Net income (loss) attributable to Ryerson Inc.	$	(130.0	)	$	(4.3	)	$	2.2
Interest and other expense on debt		18.2			18.2			24.2
Provision (benefit) for income taxes		75.2			(3.2	)		1.5
Depreciation and amortization expense		8.4			9.3			8.2
EBITDA	$	(28.2	)	$	20.0		$	36.1
EBITDA	$	(28.2	)	$	20.0		$	36.1
LIFO expense (income)		(62.0	)		(105.1	)		87.4
EBITDA, excluding LIFO expense	$	(90.2	)	$	(85.1	)	$	123.5

Note: To supplement its condensed consolidated financial statements presented on a GAAP basis, the company has provided earnings before interest, income taxes, depreciation and amortization (EBITDA) and EBITDA, excluding LIFO expense. EBITDA and EBITDA, excluding LIFO expense are non-GAAP financial measures and are not meant to be considered in isolation or as a substitute for net income attributable to Ryerson Inc. prepared in accordance with GAAP. Management believes that EBITDA and EBITDA, excluding LIFO expense are useful financial performance measures which are widely used by the investment community for evaluation purposes and provides the investors, analysts and other interested parties with additional information in analyzing the Company’s operating results.