<SEC-DOCUMENT>0000899243-20-000304.txt : 20200103
<SEC-HEADER>0000899243-20-000304.hdr.sgml : 20200103
<ACCEPTANCE-DATETIME>20200103172012
ACCESSION NUMBER:		0000899243-20-000304
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200101
FILED AS OF DATE:		20200103
DATE AS OF CHANGE:		20200103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Greiff Andrew S
		CENTRAL INDEX KEY:			0001682850

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23320
		FILM NUMBER:		20506803

	MAIL ADDRESS:	
		STREET 1:		22901 MILLCREEK BLVD.
		STREET 2:		SUITE 650
		CITY:			HIGHLAND HILLS
		STATE:			OH
		ZIP:			44122

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		5096 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>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-01-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000917470</issuerCik>
        <issuerName>OLYMPIC STEEL INC</issuerName>
        <issuerTradingSymbol>ZEUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001682850</rptOwnerCik>
            <rptOwnerName>Greiff Andrew S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OLYMPIC STEEL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>22901 MILLCREEK BLVD., SUITE 650</rptOwnerStreet2>
            <rptOwnerCity>HIGHLAND HILLS</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>44122</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and COO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2020-01-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>15694</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15694</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>62454</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each restricted share unit (&quot;RSU&quot;) represents the contingent right to receive one share of Olympic Steel, Inc. common stock.</footnote>
        <footnote id="F2">These RSUs were acquired under Olympic Steel's Amended and Restated 2007 Omnibus Incentive Plan. These RSUs vest on January 1, 2025 if the Reporting Person continues to be an employee of Olympic Steel (or its subsidiaries or affiliates) in the same or a higher position on such date. Any vested RSUs will be settled within 30 days following the first to occur of the Reporting Person's death, disability or retirement after the Reporting Person has attained the age of 62. Vesting and settlement may also occur earlier in limited circumstances as specified in the award agreement.</footnote>
        <footnote id="F3">This total number of RSUs includes previously-granted RSUs with different vesting and payment terms.</footnote>
    </footnotes>

    <remarks>Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Lisa K. Christen, as Attorney-in-Fact</signatureName>
        <signatureDate>2020-01-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>attachment1.htm
<DESCRIPTION>EX-24 DOCUMENT
<TEXT>
<HTML>
<HEAD>
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<PRE>
                               POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and
appoints Richard A. Manson, Lisa K. Christen and Gretchen A. Sterling and each
of them, as the true and lawful attorney or attorneys-in-fact, with full power
of substitution and revocation, for the undersigned and in the name, place and
stead of the undersigned, in any and all capacities, to execute, on behalf of
the undersigned, (1) any and all notices pursuant to Rule 144 under the
Securities Act of 1933 with respect to sales of shares of common stock, without
par value, or other securities, of Olympic Steel, Inc., including, without
limitation, all notices of proposed sale on Form 144, and (2) any and all
statements or reports under Section 16 of the Securities Exchange Act of 1934
with respect to the beneficial ownership of common stock, without par value, or
other securities, of Olympic Steel, Inc., including, without limitation, all
initial statements of beneficial ownership on Form 3, all statements of changes
in beneficial ownership on Form 4, all annual statements of beneficial ownership
on Form 5 and all successor or similar forms, to be filed with the Securities
and Exchange Commission, to execute any and all amendments or supplements to any
such notices, statements or reports, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting to said attorney or attorneys-in-fact, and each of
them, full power and authority to do so and perform each and every act and thing
requisite and necessary to be done in and about the premises (including, without
limitation, completing, executing, delivering and filing a Form ID to apply for
electronic filing codes), as fully and to all intents and purposes as the
undersigned might or could do in person, and hereby ratifying and confirming all
that said attorney or attorneys-in-fact, or any of them, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.  The
undersigned acknowledges that the foregoing attorneys-in-fact, and each of them,
in serving in such capacity at the request of the undersigned, are not assuming
any of the responsibilities of the undersigned to comply with Section 16 of the
Securities Exchange Act of 1934 or any other legal requirement.  This Power of
Attorney shall remain in effect until revoked in writing by the undersigned.


                      /s/ Andrew S. Greiff
                      ---------------------------------------
                      Name: Andrew S. Greiff


Date:  July 31, 2019

</PRE>
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</DOCUMENT>
</SEC-DOCUMENT>
