8-K

                                  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):
                       December 5, 2002 (December 3, 2002)




                           NATIONAL STEEL CORPORATION
             (Exact name of registrant as specified in its charter)



                                    Delaware
                 (State or other jurisdiction of incorporation)



          1-983                                          25-0687210
  (Commission File Number)                    (IRS Employer Identification No.)



4100 Edison Lakes Parkway, Mishawaka, IN                 46545-3440
(Address of principal executive offices)                 (Zip Code)



Registrant's telephone number, including area code:      574-273-7000



ITEM 5. FINANCIAL STATEMENTS AND EXHIBITS

National Steel Corporation issued a press release on December 3, 2002 reporting
its October 2002 results.

A copy of this press release is attached hereto as Exhibit 99.1.



ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1 Press release dated December 3, 2002.







                                    SIGNATURE



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.




                                               NATIONAL STEEL CORPORATION

Date:  December 5, 2002                        By: /s/ Kirk A. Sobecki
                                                   ---------------------------
                                                   Kirk A. Sobecki
                                                   Senior Vice President
                                                   and Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1

                                                         [GRAPHIC APPEARS HERE]

                                                     National Steel Corporation
                                                     4100 Edison Lakes Parkway
                                                     Mishawaka, IN  46545-3440
News Release

Media Contact:                      Tamara J. Freeman
                                    574-273-7558

Analyst/Investor Contact:           William E. McDonough
                                    574-273-7414


                   NATIONAL STEEL REPORTS OCTOBER 2002 RESULTS

     Mishawaka IN, December 3, 2002 - National Steel Corporation filed a Form
8-K on November 26, 2002 for the entities that filed Chapter 11 and reported a
net loss for October of $4.0 million. Including all of the entities that did not
file Chapter 11, National Steel had a net loss of $4.6 million. The October loss
was attributed to higher planned maintenance outages and lower shipments due to
seasonal reductions in construction and container market shipments. Average
selling prices continued to increase primarily as a result of a better mix of
shipments. As indicated in the 10-Q and associated press release, the fourth
quarter 2002 is projected at a net loss due to significant maintenance outages
and an anticipated deterioration in average selling price.

     For the sixth consecutive month, National Steel generated a positive
EBITDA. The EBITDA for October was $12.4 million, which brings the year to date
EBITDA to $33.6 million. Additionally, borrowings decreased during the month by
$19 million, to $77 million at October 31, 2002. Total liquidity from cash and
availability under the Company's DIP credit facility remained strong at $252
million at month-end, as compared to $237 million at September 30, 2002.

     "I am pleased with our cash flow generation and continued strong liquidity,
which will fund the planned maintenance outages occurring in the fourth quarter.
We made a decision to complete most of our major maintenance outages in the
fourth quarter in order to coincide with the automotive market shutdowns and
seasonally low market demands," stated Mineo Shimura, chairman and chief
executive officer.

     All statements contained in this release, other than historical
information, are forward-looking statements. A variety of factors could cause
business conditions and the Company's actual results to differ materially from
those expected by the Company or expressed in the Company's forward-looking
statements. Additional information concerning these factors is available in the
Company's most recent Form 10-K for the year ended December 31, 2001.

     Headquartered in Mishawaka, Indiana, National Steel Corporation is one of
the nation's largest producers of carbon flat-rolled steel products, with annual
shipments of approximately six million tons. National Steel Corporation employs
approximately 8,200 employees. Please visit the Company's web site at
www.nationalsteel.com for more information on the Company and its products and
facilities.