Ryerson Procurement S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions)

	Year Ended December 31,												Three Months Ended March 31,
	2008		2009			2010			2011		2012		2012		2013
Pre-tax income (loss) from continuing operations before income or loss from equity investees $		29.9	$	(126.2	)	$	(57.1	)	$	23.1	$	96.5	$	39.7	$	5.9
Fixed charges:
Interest expense		109.9		72.9			75.2			80.1		86.4		19.3		28.4
Rentals, primarily buildings		10.0		8.4			8.5			10.2		10.9		2.7		2.7
Total fixed charges		119.9		81.3			83.7			90.3		97.3		22.0		31.1
Pre-tax income (loss) from continuing operations before income or loss from equity investees plus fixed charges	$	149.8	$	(44.9	)	$	26.6		$	113.4	$	193.8	$	61.7	$	37.0
Ratio of earnings to fixed charges (1)		1.2		—			—			1.3		2.0		2.8		1.2
Earnings deficiency			$	126.2		$	57.1

(1) The Company accounts for interest and penalties related to uncertain tax positions as part of income tax expense, and therefore, these charges are not included as a component of interest expense within fixed charges.