8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington DC  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 3, 2006

OREGON STEEL MILLS, INC.
(Exact name of registrant as specified in its charter)
Delaware	1-9887	94-0506370
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1000 S.W. Broadway, Suite 2200; Portland, Oregon		97205
(Address of principal executive offices)		(Zip code)
(503) 223-9228
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4 (c))

Section 8 – Other Events

Item 8.01 Other Events

On March 3, 2006, the Company announced an agreement with ShawCor Ltd. to provide coating services at its pipe mill in Portland, Oregon.

Section 9 – Financial Statements and Exhibits

Item 9.01  Financial Statements and Exhibits

(c)   Exhibits

Exhibit Number	Description
99.1	Oregon Steel Mills, Inc. Company Press Release dated March 3, 2006, announcing an agreement with ShawCor Ltd. to provide coating services at its pipe mill in Portland, Oregon..

SIGNATURES

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.

	OREGON STEEL MILLS, INC.
	(Registrant)
Date:   March 3, 2006	By:	/s/ Robin A. Gantt
		Robin A. Gantt
		Corporate Controller
		(Principal Accounting Officer)

EX-99.1

Exhibit 99.1

OREGON STEEL MILLS, INC.
Portland, Oregon

For Immediate Release March 3, 2006

Contact:	Ray Adams
	Chief Financial Officer
	(503) 240-5223

OREGON STEEL ANNOUNCES AN AGREEMENT FOR SHAWCOR LTD.
TO PROVIDE COATING SERVICES AT ITS PIPE MILL IN PORTLAND, OREGON

Portland, Oregon, March 3, 2006/Business Wire/ - Oregon Steel Mills, Inc. (NYSE:OS)  today announced that  Oregon Steel has signed an agreement with Bredero Shaw,  a division of ShawCor  Ltd., to build a pipe coating facility adjacent to  Oregon Steel’s large diameter line pipe mill under construction in Portland, Oregon. 

The agreement between Bredero Shaw and Oregon Steel contains provisions whereby Bredero Shaw will supply coating services for fusion bond epoxy corrosion coatings and internal linings, in exchange for the exclusive right to provide Oregon Steel with all of its coating requirements at the new pipe mill, the use of land and buildings for the coating facility and the provision of pipe handling services.  The coating facility will be installed adjacent to Oregon Steel’s new 60 inch API large diameter line pipe manufacturing mill that is currently under construction. It is anticipated that the pipe mill will begin production in July 2006.

Oregon Steel Mills, Inc. is organized into two divisions.  The Oregon Steel Division produces steel plate, coil, welded pipe and structural tubing from plants located in Portland, Oregon and Camrose, Alberta, Canada.  The Rocky Mountain Steel Mills Division, located in Pueblo, Colorado, produces steel rail, rod, bar, and tubular products.

FORWARD-LOOKING STATEMENTS

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties and actual results could differ materially from those projected.  Such risks and uncertainties include, but are not limited to, general business and economic conditions; competitive products and pricing, as well as fluctuations in demand; cost and availability of raw materials; potential equipment malfunction; contract cancellations; and plant construction and repair delays.  For more detailed information, please review the discussion of risks, which may cause results to differ materially, in the Company’s most recently filed Form 10-K, Form 10-Q and other SEC reports.

These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, after the date they are made.