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 3, 2010

Ryerson Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

333-152102

(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 3, 2010, 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

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 3, 2010

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

Exhibit Index

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

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)

	2010						2009			First Six Months Ended June 30
	Second Quarter			First Quarter			Second Quarter
										2010			2009
NET SALES	$	1,020.2		$	871.5		$	743.1		$	1,891.7		$	1,547.8
Cost of materials sold		887.6			737.7			657.5			1,625.3			1,336.7
Gross profit		132.6			133.8			85.6			266.4			211.1
Warehousing, delivery, selling, general and administrative		126.6			118.3			118.2			244.9			242.3
Gain on insurance settlement		(2.6	)		—			—			(2.6	)		—
Gain on the sale of assets		—			—			—			—			(3.3	)
Impairment charge on fixed assets		0.5			0.5			—			1.0			—
Other postretirement benefits curtailment gain		—			—			—			—			(1.3	)
OPERATING PROFIT (LOSS)		8.1			15.0			(32.6	)		23.1			(26.6	)
Other income and (expense), net		2.4			(2.5	)		(4.5	)		(0.1	)		(1.8	)
Interest and other expense on debt		(18.9	)		(18.9	)		(18.2	)		(37.8	)		(36.4	)
LOSS BEFORE INCOME TAXES		(8.4	)		(6.4	)		(55.3	)		(14.8	)		(64.8	)
Provision for income taxes		3.7			2.6			75.2			6.3			72.0
NET LOSS		(12.1	)		(9.0	)		(130.5	)		(21.1	)		(136.8	)
Less: Net loss attributable to noncontrolling interest		(0.2	)		—			(0.5	)		(0.2	)		(2.5	)
NET LOSS ATTRIBUTABLE TO RYERSON INC.	$	(11.9	)	$	(9.0	)	$	(130.0	)	$	(20.9	)	$	(134.3	)
Supplemental Data:
Tons shipped (000)		582			527			478			1,109			939
Shipping days		64			63			64			127			126
Average selling price/ton	$	1,753		$	1,654		$	1,556		$	1,706		$	1,649
Gross profit/ton		228			254			179			240			225
Operating profit (loss)/ton		14			28			(68	)		21			(28	)
LIFO expense (income)/ton		61			24			(130	)		43			(178	)
LIFO expense (income)	$	35.5		$	12.5		$	(62.0	)	$	48.0		$	(167.1	)
Depreciation and amortization expense		9.2			9.2			8.4			18.4			17.7
Cash flow from operating activities		(112.9	)		(51.8	)		159.3			(164.7	)		354.1
Capital expenditures		(9.7	)		(5.3	)		(5.6	)		(15.0	)		(13.0	)

See Schedule 1 for EBITDA and Adjusted EBITDA reconciliation.

Schedule 1

RYERSON INC. AND SUBSIDIARY COMPANIES

Reconciliation of Net Loss Attributable to Ryerson Inc. to EBITDA

(Dollars in millions)

	2010						2009
	Second Quarter			First Quarter			Second Quarter
Net loss attributable to Ryerson Inc.	$	(11.9	)	$	(9.0	)	$	(130.0	)
Interest and other expense on debt		18.9			18.9			18.2
Provision for income taxes		3.7			2.6			75.2
Depreciation and amortization expense		9.2			9.2			8.4
EBITDA	$	19.9		$	21.7		$	(28.2	)
Reorganization		0.8			2.2			3.8
Advisory services fee		1.2			1.3			1.2
Foreign currency transaction (gains) losses		(2.7	)		2.7			4.6
Gain on insurance settlement		(2.6	)		—			—
Impairment charge on fixed assets		0.5			0.5			—
Other adjustments		0.3			(0.2	)		(0.1	)
Adjusted EBITDA	$	17.4		$	28.2		$	(18.7	)
Adjusted EBITDA	$	17.4		$	28.2		$	(18.7	)
LIFO expense (income)		35.5			12.5			(62.0	)
Adjusted EBITDA, excluding LIFO expense (income)	$	52.9		$	40.7		$	(80.7	)

Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, gain on the sale of assets, reorganization expenses and the payment of management fees. We believe that EBITDA and Adjusted EBITDA provide additional information for measuring our performance and are measures frequently used by securities analysts and investors. EBITDA and Adjusted EBITDA do not represent, and should not be used as a substitute for, net income or cash flows from operations as determined in accordance with generally accepted accounting principles, and neither EBITDA nor Adjusted EBITDA is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements. Our definitions of EBITDA and Adjusted EBITDA may differ from that of other companies. Above is the reconciliation of net income to EBITDA, as further adjusted to Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income).