-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QMwB58XrraPv90pl49zvJedKKBOwiTQpeRkevLo3GRLYsXudCTmuY0ckssCpFfjq
 Cde4vuZ9PKKMjgZlCjhaiQ==

<SEC-DOCUMENT>0000830260-04-000016.txt : 20040317
<SEC-HEADER>0000830260-04-000016.hdr.sgml : 20040317
<ACCEPTANCE-DATETIME>20040317212633
ACCESSION NUMBER:		0000830260-04-000016
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030501
FILED AS OF DATE:		20040317

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WALKER FRANK M
		CENTRAL INDEX KEY:			0001209261

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09887
		FILM NUMBER:		04676636

	MAIL ADDRESS:	
		STREET 1:		OREGON STEEL MILLS INC
		STREET 2:		1000 SW BROADWAY STE 2200
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OREGON STEEL MILLS INC
		CENTRAL INDEX KEY:			0000830260
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				940506370
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1000 SW BROADWAY
		STREET 2:		STE 2200
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205
		BUSINESS PHONE:		5032405788

	MAIL ADDRESS:	
		STREET 1:		PO BOX 5368
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97228
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>osmwalk4a04_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2003-05-01</periodOfReport>

    <dateOfOriginalSubmission>2003-05-01</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000830260</issuerCik>
        <issuerName>OREGON STEEL MILLS INC</issuerName>
        <issuerTradingSymbol>OS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001209261</rptOwnerCik>
            <rptOwnerName>WALKER FRANK M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>OREGON STEEL MILLS INC</rptOwnerStreet1>
            <rptOwnerStreet2>1000 SW BROADWAY STE 2200</rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97205</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>750</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.33</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-05-01</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-05-01</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.33</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-05-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-04-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1500</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.25</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2002-04-26</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2003-04-26</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-04-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-04-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Total number of options amended from prior filing.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Jeff S. Stewart</signatureName>
        <signatureDate>2004-03-11</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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