8-K

               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): April 19, 1995


               ROANOKE ELECTRIC STEEL CORPORATION
     (Exact name of Registrant as specified in its charter)


            Virginia                0-2389             54-0585263     
 (State or other jurisdiction     (Commission       (I.R.S. Employer 
       of incorporation )          File Number)     Identification No.)

            102 Westside Blvd., N.W., Roanoke, Virginia          24017 
               (Address of principal executive offices)       (Zip Code)

    Registrant's telephone number, including area code:  (540) 342-1831

                                     N/A                 
                                           
         (Former name, former address and former fiscal year, if 
                       changed since last report)


Item 5.  Other Events.

See press release attached hereto as Exhibit 99.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(c)  Exhibits.

       99   -   Press Release dated April 19, 1996



                           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.


                         ROANOKE ELECTRIC STEEL CORPORATION


                         By Donald G. Smith 
                            Donald G. Smith
                            Chairman and Chief Executive Officer


Date: April 19, 1996

EX-99

                         EXHIBIT NO. 99


ROANOKE ELECTRIC STEEL CORPORATION      P.O. Box 13948
                                        Roanoke, Virginia  24038-3948

                                        Office: 1-540-342-1831
                                                1-800-765-6567
                                        FAX:    1-540-342-9437


NEWS RELEASE                                FOR IMMEDIATE RELEASE
                                            CONTACT:     T. Joe Crawford
                                                         (540)  342-1831


                ROANOKE ELECTRIC STEEL ANNOUNCES
                     COMMON STOCK REPURCHASE

     ROANOKE, Virginia, April 19, 1996 - - Roanoke Electric Steel
Corporation (NASDAQ-NNM: RESC) today reported that at a regular
meeting of the Board of Directors of the Corporation held April
16, 1996, the Board authorized the repurchase of up to 500,000
shares of the Company's common stock, from time to time in the
open market and in privately negotiated transactions, during the
next 12 months.  The Company currently has 8,081,397 shares
outstanding.  The repurchased shares, to be held as authorized
and unissued shares, will be available to fund the Corporation's
stock option plan and for general corporate purposes.  
     Donald G. Smith, Chairman and Chief Executive Officer,
stated:
          "The Company's performance continues to be strong.
           We think this is an excellent time to reaffirm our 
           confidence in the future of the steel industry and 
           the bright prospects for the Company."

     Roanoke Electric Steel Corporation is a mini-mill producer
of finished steel products, consisting of angles, plain rounds,
flats, channels and reinforcing bars, which are sold to steel
fabricators and steel service centers, and semi-finished steel
billets, which are sold to other steel producers.  Four
subsidiaries are involved in various steel-related activities,
consisting of steel scrap processing, steel bar joist fabrication
and reinforcing bar fabrication.