8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    FORM 8-K

                                 CURRENT REPORT

   PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported):   April 22, 1997
                                                 -------------------------------


                            CHAPARRAL STEEL COMPANY 
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             (Exact Name of Registrant as Specified in its Charter)


         Delaware                      1-9944                  75-1424624 
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(State or Other Jurisdiction         (Commission              (IRS Employer
    of Incorporation)                File Number)         Identification Number)



 300 Ward Road, Midlothian, Texas                               76065 
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(Address of Principal Executive Offices)                      (Zip Code)



Registrant's telephone number, including area code:          (972) 299-5212
                                                    ----------------------------


- --------------------------------------------------------------------------------
        (Former Name or Former Address, if Changed Since Last Report)
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ITEM 5.  OTHER EVENTS.

         A meeting of the Board of Directors of Registrant was held on April
22, 1997. During the meeting of the Board of Directors of Registrant, the Board
approved the construction of a new structural steel mill to be located in the
Eastern United States. Upon conclusion of the meeting of the Board of
Directors, Registrant included such approval in a press release issued and
dated April 22, 1997. A copy of such press release is attached hereto and
incorporated herein by reference.


ITEM 7.  EXHIBITS.


          Exhibit 5.1      "Chaparral Steel Company Announces Plans For
                           New Plant" Press Release (Midlothian, Texas -
                           April 22, 1997)




                                   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.


                                        CHAPARRAL STEEL COMPANY



Date: May 5, 1997                       By: /s/ ROBERT C. MOORE
                                           -------------------------------
                                            Robert C. Moore 
                                            Vice President & Secretary




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                              INDEX TO EXHIBITS
          EXHIBIT
          NUMBER               DESCRIPTION
          -------              -----------
           5.1        "Chaparral Steel Company Announces Plans For
                      New Plant" Press Release (Midlothian, Texas -
                      April 22, 1997)

EX-5.1

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                                                                     EXHIBIT 5.1

                    [CHAPARRAL STEEL COMPANY LETTERHEAD]



                             FOR IMMEDIATE RELEASE

             CHAPARRAL STEEL COMPANY ANNOUNCES PLANS FOR NEW PLANT


(Midlothian, Texas - April 22, 1997) The Board of Directors of Chaparral Steel
Company (NYSE - CSM) today announced that it has given approval for a new
structural steel mill - "Chaparral East." Engineering contracts have been
executed. The specific plant location in the eastern United States is being
finalized.

"The new mill's annual capacity will exceed one million tons and all products
will be made from recycled steel," stated Gordon E. Forward, President. "With
the reduction in domestic suppliers that has taken place over the last few
years, the North American structural market requires substantial imports to
meet demand. This low operating cost facility will be well positioned to supply
expected market needs."

Chaparral East will incorporate the patented Near Net Shape Casting technology
previously developed at the Company's Texas plant. The new facility will be the
first to combine the casting technology with state-of-the-art melting
technology and a proprietary, Schloemann SMS designed rolling mill to provide
both low operating costs and a wide range of products. The plant will also
utilize Chaparral's material recycling expertise.

The new mill will make a full range of structural beams up to 36 inches in
depth, extending Chaparral's current range of 4 to 24 inches. North American
and European sheet pile sections, "H" pile sections, Bantam Beams(R), and other
structural shapes will also be produced. The plant's location will provide
distribution advantages to the eastern United States.

"The cost advantages, product flexibility and second location that Chaparral
East will provide all fit well with our mission of being the leader in cost,
quality and service in our markets," continued Forward. "Production is
scheduled to begin in 1999."

Chaparral Steel Company manufactures high quality structural and bar products
from recycled steel for distribution throughout North America.


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