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): March 15, 2011

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 March 15, 2011, Ryerson Inc. released its Fourth Quarter and Twelve-Month Selected Income and Cash Flow Data ending December 31, 2010. A copy of the report is attached as Exhibit 99.1 to this current report and is incorporated herein 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. Fourth Quarter and Twelve-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: March 15, 2011

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

Exhibit Index

Exhibit Number	Description
99.1	Ryerson Inc. Fourth Quarter and Twelve-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)

							Third			Year Ended
	Fourth Quarter						Quarter			December 31,
	2010			2009			2010			2010			2009
NET SALES	$	972.1		$	741.1		$	1,031.7		$	3,895.5		$	3,066.1
Cost of materials sold		837.8			648.5			892.6			3,355.7			2,610.6
Gross profit		134.3			92.6			139.1			539.8			455.5
Warehousing, delivery, selling, general and administrative		132.1			127.4			128.7			505.7			483.9
Restructuring and other charges		12.0			—			—			12.0			—
Gain on insurance settlement		—			—			—			(2.6	)		—
Gain on the sale of assets		—			—			—			—			(3.3	)
Impairment charge on fixed assets		0.2			13.2			0.2			1.4			19.3
Pension and other postretirement benefits curtailment (gain) loss		2.0			(0.7	)		—			2.0			(2.0	)
OPERATING PROFIT (LOSS)		(12.0	)		(47.3	)		10.2			21.3			(42.4	)
Other income and (expense), net		(1.2	)		(1.6	)		(1.9	)		(3.2	)		(10.2	)
Interest and other expense on debt		(18.6	)		(18.5	)		(18.8	)		(75.2	)		(72.9	)
LOSS BEFORE INCOME TAXES		(31.8	)		(67.4	)		(10.5	)		(57.1	)		(125.5	)
Provision (benefit) for income taxes		1.5			(19.1	)		5.1			12.9			66.9
NET LOSS		(33.3	)		(48.3	)		(15.6	)		(70.0	)		(192.4	)
Less: Net loss attributable to noncontrolling interest		(3.3	)		(1.1	)		(1.1	)		(4.6	)		(3.1	)
NET LOSS ATTRIBUTABLE TO RYERSON INC.	$	(30.0	)	$	(47.2	)	$	(14.5	)	$	(65.4	)	$	(189.3	)
Supplemental Data:
Tons shipped (000)		557			446			586			2,252			1,881
Shipping days		60			61			64			251			251
Average selling price/ton	$	1,745		$	1,661		$	1,761		$	1,730		$	1,630
Gross profit/ton		241			208			237			240			242
Operating profit/ton		(22	)		(106	)		17			10			(23	)
LIFO expense (income)/ton		3			67			4			23			(93	)
LIFO expense (income)	$	1.8		$	30.0		$	2.6		$	52.4		$	(174.2	)
Depreciation and amortization expense		10.5			10.7			9.7			38.6			37.1
Cash flow from operating activities		(22.0	)		(17.8	)		(11.7	)		(198.4	)		284.7
Capital expenditures		(7.1	)		(6.0	)		(4.9	)		(27.0	)		(22.8	)

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 Adjusted EBITDA

(Dollars in millions)

	Fourth			Year Ended
	Quarter			December 31,
	2010			2010			2009
Net loss attributable to Ryerson Inc.	$	(30.0	)	$	(65.4	)	$	(189.3	)
Interest and other expense on debt		18.6			75.2			72.9
Provision (benefit) for income taxes		1.5			12.9			66.9
Depreciation and amortization expense		10.5			38.6			37.1
EBITDA	$	0.6		$	61.3		$	(12.4	)
Gain on sale of assets		—			—			(3.3	)
Reorganization		14.8			19.1			19.9
Advisory services fee		1.2			5.0			5.0
Foreign currency transaction losses		1.4			2.7			14.8
Gain on insurance settlement		—			(2.6	)		—
Debt retirement gains		—			—			(2.7	)
Impairment charge on fixed assets		0.2			1.4			19.3
Other adjustments		(0.2	)		0.5			(1.9	)
Adjusted EBITDA	$	18.0		$	87.4		$	38.7
Adjusted EBITDA	$	18.0		$	87.4		$	38.7
LIFO expense (income)		1.8			52.4			(174.2	)
Adjusted EBITDA, excluding LIFO expense (income)	$	19.8		$	139.8		$	(135.5	)

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).