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): JULY 11, 2002


                            OREGON STEEL MILLS, INC.
             (Exact name of registrant as specified in its charter)

        DELAWARE                       1-9887                 94-0506370
(State or other jurisdiction        (Commission             (IRS Employer
    of incorporation)               File Number)           Identification No.)


1000 SW BROADWAY, SUITE 2200, PORTLAND, OREGON                        97205
   (Address of principal executive offices)                         (Zip Code)


       Registrant's telephone number, including area code: (503) 223-9228



                                    NO CHANGE
          (Former name or former address, if changed since last report)









ITEM 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE.

         On July 10, 2002, Oregon Steel Mills, Inc. (the "Company") announced
that it had priced an offering of $305 million of Senior First Mortgage Notes
due 2009, at 98.772% with an interest rate of 10 percent. These notes are being
offered in a private offering to qualified institutional buyers in the United
States and to non-U.S. persons outside the United States. The Company's press
release announcing the proposed offering is attached hereto as Exhibit 99.1.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)  Exhibits.

         99.1     Press release dated July 10, 2002.

                                      -1-



                                  EXHIBIT INDEX


EXHIBIT       DESCRIPTION
- -------       -----------

99.1          Press release dated July 10, 2002.



                                      -2-




                                    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.

         Date:  July 11, 2002.


                                            OREGON STEEL MILLS, INC.



                                            By   /s/ Jeff S. Stewart
                                                 -------------------------------
                                                 Jeff S. Stewart
                                                 Corporate Controller


                                      -3-

EX-99

EXHIBIT 99.1

                            OREGON STEEL MILLS, INC.
                                Portland, Oregon

FOR IMMEDIATE RELEASE                                             July 10, 2002
- --------------------------------------------------------------------------------

Contact: Vicki Tagliafico
         (503) 240-5226


                  OREGON STEEL MILLS, INC. PRICES DEBT OFFERING

Portland, Oregon, July 10, 2002/Business Wire/ -- Oregon Steel Mills, Inc.
(NYSE: OS) announced today that it has priced an offering of $305 Million of
Senior First Mortgage Notes due 2009 at 98.772% with an interest rate of 10%
percent. As previously announced the proceeds of this issuance will be used to
redeem the Company's outstanding 11% First Mortgage Notes due 2003, refinance
its existing revolving credit facility and for working capital and general
corporate purposes. The notes are being offered to qualified institutional
buyers in the United States and to non-U.S. persons outside the United States in
a private offering. The notes are not being registered under the Securities Act.
Unless so registered, the notes may not be offered or sold in the United States
except pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state securities
laws.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any security.