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):  March 24, 1998

                           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:      219-273-7000



 
                                                                    Exhibit 99.1



ITEM 5.  OTHER EVENTS


National Steel Corporation issued a press release on March 24, 1998 commenting
on 1998 First Quarter estimated results and performance. A copy of this press
release is attached hereto as Exhibit 99.1.


ITEM 7.  FINANCIAL STATEMENT AND EXHIBITS


Exhibit 99.1  Press release dated March 24, 1998.







                                  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:  March 25, 1998                     By: /s/John A. Maczuzak
                                             ------------------------------
                                              John A. Maczuzak
                                              President and Chief Operating
                                              Officer 
  

 

                                                                    Exhibit 99.1


News Release
- ------------

Media Contact:            Leon L. Judd
                          (219) 273-7631
              
Analyst/Investor Contact: Joseph A. Rainis
                          (219) 273-7158


                  NATIONAL STEEL COMMENTS ON EARNINGS OUTLOOK


Mishawaka, IN, March 24, 1998--National Steel Corporation (NYSE:NS) today
announced that its First Quarter 1998 results will be well below current
estimates made by the analyst community and are expected to be roughly break-
even.

Among those items affecting First Quarter 1998 performance are the planned major
reline of a blast furnace at the Company's Great Lakes Division which began
several weeks earlier than anticipated and will likely take longer to complete.
This has been coupled with the effects of a late winter storm earlier this month
which has negatively impacted operations, particularly at the Midwest Steel
Division and an equipment failure at the National Steel Pellet operations which
has affected production.

While these operating issues will have a negative impact on First Quarter 1998
results, the problems have been largely resolved and the effects will be
primarily confined to the First Quarter of 1998.

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 and experience 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 Annual Report and Form 10-K for the year ended December
31, 1996.

Headquartered in Mishawaka, Indiana, National is the nation's fourth largest
integrated steel company, with annual shipments of approximately six million
tons of flat rolled products. National employs approximately 9,400 people. Visit
National Steel's website at: www.nationalsteel.com.