SECURITIES AND EXCHANGE COMMISSION 

                          WASHINGTON, D.C. 20549

                                 FORM 10-Q
 
 
 (MARK ONE) 
 
     [X]     QUARTERLY REPORT PURSUANT TO SECTION 13 
	       OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
 
     FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997
 
	                      		   OR 
 
     [  ]    TRANSITION REPORT PURSUANT TO SECTION 13 
	      OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
 
     FOR THE TRANSITION PERIOD FROM            TO            
                                    ----------    ---------- 
 
 
     Commission file number 0-14061 


                        STEEL TECHNOLOGIES INC.                
      ------------------------------------------------------ 
      (Exact name of registrant as specified in its charter) 
 
           KENTUCKY                              61-0712014 
-------------------------------             ------------------- 
(State or other jurisdiction of              (I.R.S. Employer 
 incorporation or organization)             Identification No.) 
 
    15415 Shelbyville Road, Louisville, KY        40245 
   ------------------------------------------------------- 
   (Address of principal executive offices)     (Zip Code) 
 
                      (502) 245-2110 
    ---------------------------------------------------- 
    (Registrant's telephone number, including area code) 
 
 
    ---------------------------------------------------- 
    (Former name, former address and former fiscal year, 
	 	 if changed since last report) 
 
 
Indicate by check mark whether the Registrant (1) has filed all reports 
required to be filed by Sections 13 or 15(d) of the Securities Exchange 
Act of 1934 during the preceeding 12 months (or for such shorter period 
that the Registrant was required to file such reports), and (2) has been 
subject to such filing requirements for the past 90 days.    
Yes   X       No       
   -------      ------- 
 
There were 11,986,345 shares outstanding of the Registrant's common 
stock as of April 30, 1997. 
 
 
 
 
                              1 of 13
 
<PAGE>
                      STEEL TECHNOLOGIES INC. 
 
	     		       INDEX 
 
 
						      Page Number 
 
PART I.     FINANCIAL INFORMATION 
 
Item 1.     Financial Statements 
 
	           Condensed Consolidated Balance Sheets 
                   March 31, 1997 (Unaudited) and  
                   September 30, 1996 (Audited)                  3 
 
                   Condensed Consolidated Statements 
	           of Income Three months and six months  
                   ended March 31, 1997 and 1996 (Unaudited)     4 
 
	           Condensed Consolidated Statements of  
	           Cash Flows Six months ended March 31,  
                   1997 and 1996 (Unaudited)                     5 
 
	           Notes to Condensed Consolidated  
	           Financial Statements (Unaudited)              6-7 
 
Item 2.     Management's Discussion and Analysis  
	           of Financial Condition and Results  
                   of Operations                                 8-12
 
 
PART II.    OTHER INFORMATION 
 
Item 4.     Submission of Matters to a Vote  
                   of Security Holders                           12 
 
Item 6.     Exhibits and Reports on Form 8-K                     13 
 
 
 
                                  2 of 13
 
                  Part I. - FINANCIAL INFORMATION 
		   Item 1. Financial Statements 
			   -------------------- 
 
		     STEEL TECHNOLOGIES INC. 
	       Condensed Consolidated Balance Sheets 
		     (Amounts in Thousands) 
 
<TABLE>
<CAPTION>
 
                                            March 31,         September 30,
                                               1997                 1996
ASSETS                                     (Unaudited)           (Audited)
--------------------------------------------------------------------------
<S>                                       <C>                 <C>   
Current assets:
---------------
   Cash and cash equivalents              $    6,411          $     4,218
   Trade accounts receivable, net             45,391               39,732
   Inventories                                75,668               59,374
   Deferred income taxes                       1,702                1,631
   Prepaid expenses and other assets           1,479                  369
--------------------------------------------------------------------------
      Total current assets                   130,651              105,324
--------------------------------------------------------------------------

Property, plant and equipment, net            99,581              100,017
--------------------------------------------------------------------------

Investments in corporate joint ventures       11,719               11,016
--------------------------------------------------------------------------

Other assets                                     805                  784
--------------------------------------------------------------------------
                                          $  242,756          $   217,141
==========================================================================


LIABILITIES AND SHAREHOLDERS' EQUITY
--------------------------------------------------------------------------
Current liabilities:
--------------------
   Accounts payable                       $   40,495          $    34,528
   Accrued liabilities                         5,058                4,843
   Accrued income taxes                          -                    303
   Long-term debt due within one year          7,385                  385
--------------------------------------------------------------------------
      Total current liabilities               52,938               40,059
--------------------------------------------------------------------------

Long-term debt                                75,525               67,260
--------------------------------------------------------------------------

Deferred income taxes                          9,407                8,461
--------------------------------------------------------------------------

Shareholders' equity:
---------------------
   Preferred stock                               -                    - 
   Common stock                               16,749               16,662
   Additional paid-in capital                  4,909                4,909
   Retained earnings                          84,763               81,161
   Foreign currency translation 
     adjustment                               (1,535)              (1,371) 
--------------------------------------------------------------------------
                                             104,886              101,361
--------------------------------------------------------------------------
                                          $  242,756          $   217,141
==========================================================================

</TABLE>
 
 
 
The accompanying notes are an integral part of the consolidated financial 
statements. 
 
 
                               3 of 13 
 
 
<PAGE>
                    STEEL TECHNOLOGIES INC. 
	   Condensed Consolidated Statements of Income 
      (Amounts in Thousands, Except per Share Data, Unaudited) 
 
<TABLE>
<CAPTION>
 
                                 Three months ended     Six months ended
                                    March 31,              March 31,
                                 1997        1996       1997        1996
-------------------------------------------------------------------------

<S>                         <C>          <C>         <C>        <C>
Sales                       $  79,799    $  76,630   $ 157,829  $ 142,338
Cost of goods sold             71,528       65,604     140,154    122,846
-------------------------------------------------------------------------
  Gross profit                  8,271       11,026      17,675     19,492

Selling, general and 
  administrative expenses       4,645        4,898       9,278      9,252
Equity in net income of 
  unconsolidated corporate 
  joint venture                   350          388         703        732
-------------------------------------------------------------------------
  Operating income              3,976        6,516       9,100     10,972

Interest expense                1,284        1,272       2,499      2,462
-------------------------------------------------------------------------
  Income before income 
   taxes                        2,692        5,244       6,601      8,510

Provision for income 
  taxes                           956        1,878       2,401      3,033
-------------------------------------------------------------------------
  Net income                $   1,736    $   3,366   $   4,200  $   5,477
=========================================================================


Weighted average number of
  common shares outstanding    11,963       11,958      11,958     11,999
=========================================================================


Earnings per common share   $    0.15    $    0.28   $    0.35  $    0.46
=========================================================================

Cash dividends per common
  share                     $    0.00    $    0.00   $    0.05  $    0.04
=========================================================================

</TABLE>
 

 
 
 
The accompanying notes are an integral part of the consolidated financial 
statements. 
 
 
                              4 of 13 
 
 
                     STEEL TECHNOLOGIES INC. 
	       Condensed Consolidated Statements of Cash Flows 
	              (Amounts in Thousands, Unaudited) 
 
 
<TABLE>
<CAPTION>
                                                 Six months ended
                                                     March 31,
                                               1997             1996
---------------------------------------------------------------------
<S>                                        <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                               $   4,200      $   5,477
  Adjustments to reconcile net income
    to net cash (used in) operating   
    activities:
      Depreciation and amortization            4,948           4,617
      Deferred income taxes                      875             825
      Equity in net income of 
	unconsolidated corporate 
        joint venture                           (703)           (732)
      Loss (gain) on sales of assets               7            (477)
      Increase (decrease) in cash 
	resulting from changes in: 
          Trade accounts receivable           (5,751)        (11,909)
          Inventories                        (16,337)        (14,624)
          Accounts payable                     5,995          11,573 
          Accrued liabilities                     21           2,978
          Other                               (1,190)            983
----------------------------------------------------------------------
Net cash (used in) 
  operating activities                        (7,935)         (1,289)
----------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of property, plant and 
    equipment                                 (4,621)         (3,784)
  Proceeds from sale of assets                     2             737
----------------------------------------------------------------------
Net cash used in investing activities         (4,619)         (3,047)
----------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from long-term debt                15,514           6,014
  Principal payments on long-term
    debt                                        (249)           (249)
  Repurchase of common stock                      -           (1,570)
  Cash dividends on common stock                (598)           (480)
  Net issuance of common stock under 
    incentive stock option plan                   87              -
----------------------------------------------------------------------
Net cash provided by financing activities     14,754           3,715
----------------------------------------------------------------------

----------------------------------------------------------------------
Effect of exchange rate changes on cash           (7)            (55)
----------------------------------------------------------------------

Net increase (decrease) in cash and  
  cash equivalents                             2,193            (676)
Cash and cash equivalents, 
  beginning of year                            4,218           2,698
----------------------------------------------------------------------
Cash and cash equivalents, 
  end of period                            $   6,411       $   2,022
======================================================================

Supplemental Cash Flow Disclosures:
-----------------------------------

 Cash payments for interest                $   2,546       $   2,455
======================================================================

 Cash payments for taxes                   $   2,169       $   1,108
======================================================================

</TABLE>
 
The accompanying notes are an integral part of the consolidated financial 
statements. 
 
                                5 of 13 
 
<PAGE>
                       STEEL TECHNOLOGIES INC. 
 
	       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 
                              (Unaudited) 
 
 
1.  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 
 
The condensed consolidated balance sheet as of March 31, 1997 and the 
condensed consolidated statements of income for the three and six-month 
periods ended March 31, 1997 and 1996, and the condensed consolidated 
statements of cash flows for the six-month periods then ended have been 
prepared by the Company without audit.  In the opinion of management, 
all adjustments (which include only normal recurring adjustments) 
necessary to present fairly the financial position, results of 
operations and cash flows at March 31, 1997 and for all periods 
presented have been made. 
 
Certain information and footnote disclosures normally included in financial 
statements prepared in accordance with generally accepted accounting 
principles have been condensed or omitted.  It is suggested that these 
condensed financial statements be read in conjunction with the financial 
statements and notes thereto included in the Company's annual report to 
shareholders for the year ended September 30, 1996.  The results of 
operations for the six months ended March 31, 1997 are not necessarily 
indicative of the operating results for the full year. 
 
 
2.  INVENTORIES 
 
<TABLE>
<CAPTION>
                                         March 31,      September 30,
                                            1997             1996
                                        (Unaudited)       (Audited)
                                       -------------------------------
                                            (Amounts in Thousands)
<S>                                  <C>              <C>
Inventories consist of:
------------------------------------------------------------------
     Raw materials                  $    67,103      $    49,617
     Finished goods and
       work in process                    8,565            9,757
------------------------------------------------------------------
                                    $    75,668      $    59,374
------------------------------------------------------------------
</TABLE>
 
 
3.  RETAINED EARNINGS  

<TABLE>
<CAPTION>
                                               Six months ended
                                                March 31, 1997
                                                --------------
                                           (Amounts in Thousands)
<S>                                            <C>
Retained earnings consists of:
------------------------------------------------------------
   Balance, beginning of year                   $    81,161

    Net income                                        4,200

    Cash dividends on common stock                     (598)
------------------------------------------------------------
   Balance, end of period                       $    84,763
------------------------------------------------------------
</TABLE>
 
 
                                6 of 13 

4.  FOREIGN CURRENCY TRANSLATION 

In accordance with Statement of Financial Accounting Standard No. 52,
"Foreign Currency Translation", the assets and liabilities denominated in
foreign currency have previously been translated into U.S. dollars at the
current rate of exchange existing at period end and revenues and expenses
were translated at the average monthly exchange rates.  The cumulative
inflation rate in Mexico over the three year period ended December 31, 1996
was approximately 100%, resulting in the Mexican economy being considered
hyper-inflationary.  The impact to the Company's consolidated financial
statements from accounting for the Company's investment in a hyper-
inflationary economy is not expected to be material.

5.  EARNINGS PER COMMON SHARE 
 
Earnings per common share are based on the weighted average number of 
common shares outstanding during each period.  Common stock options are 
not included in earnings per share computations since their effect is 
not significant. 

6.  SUBSEQUENT EVENT

On April 1, 1997, the company completed the purchase of 100% of the common
stock of Atlantic Coil Processing, Inc. (ACP) for approximately $19.6 million
in cash, notes payable and assumption of other liabilities.  The Company
financed the transaction with a combination of bank borrowings, issuance of
a note payable to the former ACP shareholders and the assumption of ACP
trade payables and other liabilities.  The transaction was accounted for
by the purchase method of accounting.  The results of operations for ACP will
be included in the consolidated financial statements of the Company from the
date of acquisition.
 
                             7 of 13
 
Item 2.  Management's Discussion and Analysis of Financial 
 Condition and Results of Operations 
 
When used in the following discussion, the word "expects" and other similar
expressions are intended to identify forward-looking statements, which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.  Such forward-looking statements are subject
to certain risks and uncertainties that could cause actual results to differ
materially from those projected.  Specific risks and uncertainties include,
but are not limited to, general business and economic conditions; cyclicality
of demand in the steel industry, specifically in the automotive market;
work stoppages or other business interruptions affecting automotive
manufacturers; competitive factors such as pricing and availability of
steel; reliance on key customers; and potential equipment malfunctions.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof.  The Company undertakes
no obligation to republish revised forward-looking statements to reflect the
occurrence of unanticipated events or circumstances after the date hereof.

Results of Operations
--------------------- 
 
The Company posted record second quarter 1997 sales of $79,799,000, the
highest for any quarter in the Company's history, an increase of 4% from
the $76,630,000 a year ago.  Sales for the six months ended March 31, 1997
increased 11% to $157,829,000 from $142,338,000 in 1996. The Company
continues to focus significant resources on the automotive industry and to
generate a major portion of business from selling to industrial customers
manufacturing component parts for use in the automotive industry.  Demand in
the automotive and other steel consuming markets during the quarter and 
six months ended March 31, 1997 was up slightly from the levels of the prior
year. The Company continues to increase its market share and to be successful
in developing a substantial amount of new business with both existing and new
customers.  As a result, tons shipped in the second quarter and six months of
fiscal 1997 increased 9% and 18%, respectively.  Average selling prices
declined 3% and 5% during these same periods.  The sales outlook for 1997
continues to improve as demand in the automotive and other steel consuming
markets is expected to increase from the prior year levels.  The capital
investments completed in recent years have added new capacity and increased
the products and services offered by the Company.  The additional product
offerings are allowing the Company to pursue significant new business
opportunities and to further enhance its market share.  The acquisition of
Atlantic Coil Processing in April 1997 adds new capacity, geographic diversity
and cut-to-length capabilities, which will further enhance the Company's
position in the marketplace.

Item 2.  Management's Discussion and Analysis of Financial 
Condition and Results of Operations (Cont.)
  
Results of Operations (Cont).
-----------------------------

Cost of goods sold a percentage of sales was 89.6% and 88.8% in the second
quarter and first half of fiscal 1997 compared to 85.6% and 86.4% in the same
periods of 1996.  As a result, the gross profit margin decreased to 10.4%
and 11.2% in 1997 from 14.4% and 13.6% a year earlier.  The gross profit
margin in the second quarter and first half of 1997 declined as a result of
increases in the purchase price of raw material from the primary steel mills.
These purchase price increases were not fully offset with selling price
increases to our customers.  A number of steel mills experienced temporary
production problems and work stoppages which have negatively impacted the
available supply of raw materials.  Additionally, the Company expects the
raw material supply, especially in hot rolled steel, to improve as new
steelmaking capacity and increased imports enter the market.  This additional
raw material supply is expected to alleviate the upward pressure on the price
of flat rolled steel.  However, should raw material price increases persist,
margins will be negatively impacted until corresponding selling price
increases are passed along to customers.  The gross margin is expected to be
positively impacted by production cost efficiencies associated with the
anticipated higher sales volumes.  Additionally, the Company expects to
increase the amount of higher margin toll processing revenue generated by the
Company's pickling facility throughout fiscal 1997.

The Company continues to actively manage the level at which selling, general
and administrative expenses are added to its cost structure.  Sales increased
approximately 4% in the second quarter of 1997, while selling, general and
administrative costs decreased 5% from 1996.  For the first half of fiscal
1997, sales increased approximately 11% while selling, general and
administrative costs remained flat compared with 1996.  As a result, selling,
general and administrative expenses as a percentage of sales decreased to
5.8% and 5.9% for the quarter and six months ended March 31, 1997 from 6.4%
and 6.5% in the same periods a year ago.

The Company's equity in net income of its unconsolidated corporate joint 
venture decreased to $350,000 and $703,000 for the quarter and six months 
ended March 31, 1997 from $388,000 and $732,000 a year ago.  These decreases
are principally the result of lower steel margins which offset the higher
sales levels achieved by the 50% owned corporate joint venture,
Mi-Tech Steel, Inc.
 
Interest expense increased to $1,284,000 and $2,499,000 for the quarter 
and six months ended March 31, 1997 from $1,272,000 and $2,462,000 in 
1996.  These increases are the result of higher average borrowings used to
finance the capital addition and working capital needs of the Company in 1997.

 
The Company's effective income tax rate remained at approximately 36% in
the second quarter and six months ended March 31, 1997 and 1996.
                                                             
                          8 of 13 
 
Item 2.  Management's Discussion and Analysis of Financial 
	 Condition and Results of Operations (Cont.) 
 
Liquidity and Capital Resources 
------------------------------- 
 
At March 31, 1997, the Company had $77,713,000 of working capital, 
maintained a current ratio of 2.5:1 and had total long-term debt at 44% 
of total capitalization.  The Company manages the levels of accounts
receivable, inventories and other working capital items in 
relation to the trends in sales and the overall market.  The Company 
expects the sales trends to remain strong during the second half of the 1997
fiscal year based on the current backlogs and order entry activity.  During
the first half of fiscal 1997 accounts receivalbe, inventories and other
working capital needs have increased to support the higher sales levels.
These working capital items were financed with borrowings from the Company's
bank line of credit.  In the second half of fiscal 1997, the combination of
the expected strong sales levels and increased availability of raw material
will increase the inventory turnover, reducing the number of days carried in
inventory.

The Company's capital expenditures for the first half of 1997 totaled
$4,621,000.  The Company has expanded its production and processing capacity
and added new processing capabilites over the last few years and expects
capital additions and investments in corporate joint ventures to approximate
$15 million for 1997.  These expenditures have been financed primarily with
proceeds from long-term debt.

On April 1, 1997, the Company completed the purchase of 100% of the common
stock of Atlantic Coil Processing, Inc. (ACP) for approximately $19.6
million in cash, notes and assumption of liabilities.  The Company financed
the transaction by borrowing approximately $10.9 million on the line of
credit, issuing $3.6 million of a note payable to the former ACP shareholders
and the assumption of $5.1 million in additional liabilities.  

Pursuant to a joint venture agreement, Steel Technologies has guaranteed
$6,250,000 of the bank financing required for the working capital purposes
of Mi-Tech Steel, Inc.  Mi-Tech Steel is anticipating significant capital
additions in 1997 to construct a pickling, slitting and cut-to-length
facility in Decatur, Alabama.  In order to finance this project, Steel
Technologies will provide an additional equity contribution of $5 million
to the joint venture.  Additional debt guarantees may be required in the
future.


Item 2.  Management's Discussion and Analysis of Financial
	 Condition and Results of Operations (Cont.) 
 
Liquidity and Capital Resources 
------------------------------- 

The Company believes that it currently has sufficient liquidity and 
available capital resources to meet its existing needs.  The Company 
expects funds generated from operations and the availability of $18 
million under its unsecured bank line of credit to be sufficient to 
finance the capital expenditure plans, acquisition plans, joint venture
contributions as well as the working capital requirements of the next
twelve months.   At this time the Company has no known material obligations,
commitments or demands which must be met beyond the next twelve months other
than the ten year notes and the line of credit.  The ten year notes do not
require any principal payments until fiscal 1999 and the line of credit is
expected to be renewed at the end of the term.  However, the Company may
seek, from time to time, additional funds to finance the opening of new
plants or significant improvements in its production and processing
capabilities.  The form of such financing may vary depending upon the
prevailing market and related conditions, and may include short or long-term
borrowings or the issuance of debt or equity securities. 

At March 31, 1997, the Company had $82,910,000 in long-term debt 
outstanding.  Under its various debt agreements, the Company has agreed 
to maintain specified levels of working capital and net worth, maintain 
certain ratios and limit the addition of substantial debt.  The Company 
is in compliance with all of its loan covenants, and none of these 
covenants would restrict the Company from completing currently planned 
capital expenditures. 
 
 
                            9 of 13 


The Company maintains an equity investment of approximately $6 million in its
80% owned Mexican subsidiary.  In accordance with Statement of Financial
Accounting Standard No. 52, "Foreign Currency Translation", the assets and
liabilities of the Mexican subsidiary have previously been translated into
U.S. dollars at the current rate of exchange existing at period end and
revenues and expenses were translated at the average monthly exchange rates.
Future currency fluctuations will be reflected as a component of stockholders'
equity.  The cumulative inflation rate in Mexico over the three year period
ended December 31, 1996 was approximately 100%, resulting in the Mexican
economy being considered hyper-inflationary.  The impact to the Company's
consolidated financial statements from accounting for the Company's investment
in a hyper-inflationary economy is not expected to be material.

The Company maintains an investment, principally in the preferred stock 
of Processing Technology, Inc., a corporate joint venture.  The Company 
periodically evaluates the possible conversion of its preferred stock
investment into common stock of Processing Technology, Inc. The Company's
decision to convert its investment to common stock will be based upon the
joint venture attaining certain financial criteria established by Steel
Technologies.  Upon conversion, the Company would be obligated to guarantee
a proportionate share, currently approximating $9,500,000, of the joint
venture's loan and lease commitments.  The conversion is not expected to
occur in the near term.


Item 2.  Management's Discussion and Analysis of Financial
	 Condition and Results of Operations (Cont.) 
 
Liquidity and Capital Resources 
------------------------------- 

The Company believes its manufacturing facilities are in compliance with
applicable federal and state environmental regulations.  The Company is 
not presently aware of any fact or circumstance which would require the 
expenditure of material amounts for environmental compliance in the future.
 
 
 
                                 10 of 13

 
 
PART II. OTHER INFORMATION 
 
Item 4. Submission of Matters to a Vote of Security Holders 
----------------------------------------------------------- 
 
The annual meeting of shareholders was held on January 23, 1997.  The 
matters voted upon at the meeting were the election of three directors 
for three year terms and the ratification of independent auditors for the
current fiscal year.
 
The number of votes cast for, against or withheld with respect to each 
nominee for director elected at the meeting were as follows: 
 
<TABLE>
<CAPTION>
Nominee                 Votes For     Votes Against    Votes Withheld 
-------                 ---------     -------------    -------------- 

<S>                     <C>                <C>            <C>

Ralph W. McIntyre       10,196,786         0               69,296 
Jimmy Dan Conner        10,198,759         0               67,323 
Andrew J. Payton        10,199,331         0               66,751  
                                                                   
</TABLE>
 
 
The number of votes cast for, against or abstained with respect to the 
selection of Coopers and Lybrand L.L.P. as independent auditors were as
follows:

<TABLE>
<CAPTION>
 
       Votes For     Votes Against    Votes Abstained 
       ---------     -------------    --------------- 
 
      <C>                <C>               <C>
      10,254,801         2,563              8,718 

</TABLE>

                         11 of 13


PART II.  OTHER INFORMATION (Cont.)

                                 
Item 6. Exhibits and Reports on Form 8-K
----------------------------------------

(a)  The following exhibit is filed as a part of this report:

10.1  --   Amended and Restated Loan Agreement dated as of March 26, 1997,
           between the Registrant and PNC Bank, Kentucky, Inc., National
           City Bank of Kentucky, NBD Bank, N.A., and SunTrust Bank,
           Nashville, N.A.

10.2  --   Steel Technologies Inc. Restated Retirement Savings Plan

10.3  --   Stock Purchase Agreement between Registrant and shareholders of
           Atlantic Coil Processing, Inc. effective April 1, 1997.

27    --   Financial Data Schedule


(b)  No reports on Form 8-K were filed during the quarter ended
March 31, 1997.


 
                            12 of 13 
 
 
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 thereunto duly authorized. 
 
 
 
 
 
 
 
                   			  STEEL TECHNOLOGIES INC. 
			                     ----------------------- 
			                          (Registrant) 
 
 
 
 
 
 
 
	                  		  By  Kenneth R. Bates 
			                    ---------------- 
			                    Kenneth R. Bates 
			                    Vice President Finance; 
			                    Chief Financial Officer 
                                            (Principal Financial and 
                                            Chief Accounting Officer) 
 
 
 
 
Dated May 13, 1997 
 
 
                                           13 of 13 
 

                         INDEX TO EXHIBITS

Exhibit
Number                  Description of Exhibit
-------                 ----------------------

27                  --  Financial Data Schedule