-----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,
 Ftl7K1ZKEEteKZFcV7VdNDptdvdY0eold/VOwSyiYYbEiu6WfC7T8rUuFq+fAH+C
 wkX/HoYvWMU7/2A2EsOmCw==

<SEC-DOCUMENT>0001005477-03-002951.txt : 20030801
<SEC-HEADER>0001005477-03-002951.hdr.sgml : 20030801
<ACCEPTANCE-DATETIME>20030801125754
ACCESSION NUMBER:		0001005477-03-002951
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030801
FILED AS OF DATE:		20030801

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DECLUSIN JAMES E
		CENTRAL INDEX KEY:			0001209266

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09887
		FILM NUMBER:		03817206

	MAIL ADDRESS:	
		STREET 1:		OREGON STEEL MILLS INC
		STREET 2:		1000 SW BROADWAY STE 2200
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-08-01</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000830260</issuerCik>
        <issuerName>OREGON STEEL MILLS INC</issuerName>
        <issuerTradingSymbol>OS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001209266</rptOwnerCik>
            <rptOwnerName>DECLUSIN JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1000 S.W. BROADWAY, STE. 2200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97205</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>President &amp; CEO</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock</value>
            <footnoteId id="F1"/>
        </securityTitle>

        <transactionDate>
            <value>2003-08-01</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>40000</value>
            </transactionShares>

            <transactionPricePerShare>
                <footnoteId id="F1"/>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
                <footnoteId id="F1"/>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>40000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <footnotes>
        <footnote id="F1">Received stock under inducement award.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ James E. Declusin</signatureName>
        <signatureDate>2003-08-01</signatureDate>
    </ownerSignature>

</ownershipDocument>

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