Ryerson Inc., Chicago, IL, which recently announced it has agreed to be acquired by Platinum Equity, reported second quarter sales of $1.6 billion, a 7.2% increase from the year-ago period.   ; A 17.5% rise in the average selling price per ton offset an 8.8% decline in tons shipped. From the first quarter, sales declined 2.7% on a 1.1% increase in the average selling price per ton and a 3.7% decline in tons shipped.   ; Profit was up 72% year-over-year, and up 51% excluding a favorable income tax settlement.   ; Ryerson reported that softer industry volume was offset by higher metals pricing, efforts to control costs, continued inventory reductions, and progress on short-term initiatives of addressing underperforming service centers, improving inventory management and completing the Integris integration.   ; Ryerson expects metal prices to soften in the third quarter 2007.   ; Ryerson is a distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The company services customers through a network of service centers across the U.S. and in Canada, Mexico, India, and China.