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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950152-04-007384.txt : 20041015
<SEC-HEADER>0000950152-04-007384.hdr.sgml : 20041015
<ACCEPTANCE-DATETIME>20041014173833
ACCESSION NUMBER:		0000950152-04-007384
CONFORMED SUBMISSION TYPE:	RW
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20041015
DATE AS OF CHANGE:		20041014

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLYMPIC STEEL INC
		CENTRAL INDEX KEY:			0000917470
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-METALS SERVICE CENTERS & OFFICES [5051]
		IRS NUMBER:				341245650
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		RW
		SEC ACT:		
		SEC FILE NUMBER:	333-118629
		FILM NUMBER:		041079585

	BUSINESS ADDRESS:	
		STREET 1:		5080 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146
		BUSINESS PHONE:		2162923800

	MAIL ADDRESS:	
		STREET 1:		5096 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146
</SEC-HEADER>
<DOCUMENT>
<TYPE>RW
<SEQUENCE>1
<FILENAME>l09289brw.txt
<DESCRIPTION>OLYMPIC STEEL         RW
<TEXT>
<PAGE>


October 14, 2004

VIA EDGAR AND OVERNIGHT MAIL
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549

RE:     OLYMPIC STEEL, INC.
        FORM S-3 FILED ON AUGUST 27, 2004
        FILE NO. 333-118629

Ladies and Gentlemen:


     Olympic Steel, Inc., an Ohio corporation (the "Company"), hereby submits
this application, pursuant to Rule 477 under the Securities Act of 1933, as
amended, to withdraw its Registration Statement on Form S-3, File No.
333-118629, originally filed with the Securities and Exchange Commission on
August 27, 2004 (the "Registration Statement"). The Company is withdrawing its
Registration Statement because it no longer intends to conduct the offering of
shares of common stock contemplated in the Registration Statement. Due to
current market conditions, the Company has determined that it is not in the best
interests of the Company to proceed with the registration of the Company's
common stock at this time. No securities have been sold under the Registration
Statement. Accordingly, the Company requests that an order granting withdrawal
of the Registration Statement be issued as soon as reasonably possible. Please
forward copies of the order consenting to the withdrawal of the Registration
Statement to the undersigned via facsimile at (216) 292-3974, and to Michael A.
Ellis, Esq. of Kahn Kleinman, L.P.A. via facsimile at (216) 623-4912.

     The Company also requests in accordance with Rule 457(p) that all fees paid
to the Commission in connection with the filing of the Registration Statement be
credited for future use. If you have any questions with respect to this letter,
please call either Mr. Ellis at (216) 736-3348 or the undersigned at (216)
292-3800.

                                    Very truly yours,

                                    OLYMPIC STEEL, INC.
                                    By:   /s/ Michael D. Siegal
                                        ------------------------------
                                    Name: Michael D. Siegal
                                    Title: Chairman and Chief Executive Officer




cc:      Marc H. Morgenstern, Esq.
         R. Cabell Morris, Jr., Esq.

</TEXT>
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</SEC-DOCUMENT>
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