Financial Statements

9 Months Ended

Sep. 30, 2011

Financial Statements

Financial Statements

NOTE 1: FINANCIAL STATEMENTS

Ryerson Inc. ("Ryerson"), a Delaware corporation, is a wholly-owned subsidiary of Ryerson Holding Corporation ("Ryerson Holding"). Ryerson Holding is 99% owned by affiliates of Platinum Equity, LLC ("Platinum").

Ryerson conducts materials distribution operations in the United States through its wholly-owned direct subsidiary Joseph T. Ryerson & Son, Inc. ("JT Ryerson"), in Canada through its indirect wholly-owned subsidiary Ryerson Canada, Inc., a Canadian corporation ("Ryerson Canada") and in Mexico through its indirect wholly-owned subsidiary Ryerson Metals de Mexico, S. de R.L. de C.V., a Mexican corporation ("Ryerson Mexico"). In addition to our North American operations, we conduct materials distribution operations in China through Ryerson China Limited ("Ryerson China"), a company in which we have a 50% direct ownership percentage and an additional 50% interest through affiliates of Ryerson Holding. Unless the context indicates otherwise, Ryerson, JT Ryerson, Ryerson Canada, Ryerson China and Ryerson Mexico together with their subsidiaries, are collectively referred to herein as "we," "us," "our," or the "Company."

The following table shows our percentage of sales by major product lines for the three and nine months ended September 30, 2011 and 2010, respectively:

	Three Months Ended September 30,						Nine Months Ended September 30,
Product Line	2011			2010			2011			2010
Carbon Steel Flat		28	%		29	%		27	%		29	%
Carbon Steel Plate		11			9			11			8
Carbon Steel Long		11			9			10			9
Stainless Steel Flat		17			21			19			21
Stainless Steel Plate		4			4			4			4
Stainless Steel Long		4			3			4			3
Aluminum Flat		15			15			14			15
Aluminum Plate		3			3			4			3
Aluminum Long		4			3			3			4
Other		3			4			4			4
Total		100	%		100	%		100	%		100	%

Results of operations for any interim period are not necessarily indicative of results of any other periods or for the year. The financial statements as of September 30, 2011 and for the three-month and nine-month periods ended September 30, 2011 and 2010 are unaudited, but in the opinion of management include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results for such periods. The year-end condensed consolidated balance sheet data contained in this report was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles ("GAAP") in the United States of America. These financial statements should be read in conjunction with the financial statements and related notes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2010. Certain prior period amounts have been reclassified to conform to the 2011 presentation.