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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950152-04-007385.txt : 20041015
<SEC-HEADER>0000950152-04-007385.hdr.sgml : 20041015
<ACCEPTANCE-DATETIME>20041014173916
ACCESSION NUMBER:		0000950152-04-007385
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041014
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23320
		FILM NUMBER:		041079586

	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>8-K
<SEQUENCE>1
<FILENAME>l09991ae8vk.txt
<DESCRIPTION>OLYMPIC STEEL, INC.     8-K
<TEXT>
<PAGE>
================================================================================

                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) - October 14, 2004
                                                          ----------------


                         Commission File Number 0-23320


                               OLYMPIC STEEL, INC.
             (Exact name of registrant as specified in its charter)


                 Ohio                                  34-1245650
    -------------------------------              ----------------------
    (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)              Identification Number)


    5096 Richmond Road, Bedford Heights, Ohio           44146
    -----------------------------------------      ----------------
    (Address of principal executive offices)          (Zip Code)


        Registrant's telephone number, including area code (216) 292-3800
                                                           --------------



================================================================================


<PAGE>


ITEM 8.01         OTHER MATTERS

         On October 14, 2004, Olympic Steel, Inc. announced that it had
withdrawn its registration statement, filed with the Securities & Exchange
Commission on August 27, 2004, and pertaining to 2,817,500 shares of Common
Stock, without par value. A copy of the Press Release is attached hereto as
Exhibit 99.1

ITEM 9.01         FINANCIAL STATEMENTS AND EXHIBITS

  (c)    Exhibits.

         EXHIBIT NO.
         -----------
         99.1          Press release of the Company dated October 14, 2004



                                   SIGNATURES

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.

                                            OLYMPIC STEEL, INC.

Date: October 14, 2004                      By:   /s/  RICHARD T. MARABITO
                                                  ------------------------
                                            Richard T. Marabito
                                            Chief Financial Officer
                                            (Principal Accounting Officer)


<PAGE>


                                  EXHIBIT INDEX
                                  -------------

99.1         Press Release dated October 14, 2004.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l09991aexv99w1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>
NEWS                                                CONTACT: RICHARD T. MARABITO
release                                                  CHIEF FINANCIAL OFFICER
                                                       TELEPHONE: (216) 292-3800
                                                             FAX: (216) 292-3974

            OLYMPIC STEEL WITHDRAWS REGISTRATION STATEMENT FOR PUBLIC
                            OFFERING OF COMMON STOCK

         Cleveland, Ohio - (October 14, 2004) Olympic Steel, Inc. (Nasdaq: ZEUS)
announced today that it has withdrawn its S-3 registration statement with the
Securities and Exchange Commission relating to a proposed public offering of
2,817,500 shares of its common stock. The registration statement had not become
effective and no securities were sold under this S-3.

         The Company intended to use the net proceeds of the offering to repay a
portion of its indebtedness. At September 30, 2004, the Company had
approximately $48 million in availability within its increased $110 million bank
credit facility. "With the funds generated from operations, along with current
availability under our credit agreement, we have the necessary liquidity to fund
anticipated near-term growth and working capital requirements," stated Michael
D. Siegal, Chairman and Chief Executive Officer. "As there has been a general
decline in the equity prices of numerous public steel producers and service
centers, we now believe that it is not in our shareholders' best interest to
proceed with an offering," he added.

         The Company's third quarter earnings release is scheduled for Tuesday,
October 19, 2004, with a conference call at 11:00 a.m. EST.

         Olympic Steel is a leading U.S. steel service center focused on the
direct sale and distribution of large volumes of processed carbon, coated and
stainless flat-rolled sheet, coil and plate steel products. Headquartered in
Cleveland, Ohio, the Company operates 12 facilities and participates in two
joint ventures.

         Forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and uncertainties
(contained in the Company's SEC Filings) that could cause actual results to
differ materially from those projected.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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