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):  January 10, 2003

Kentucky Electric Steel, Inc.
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(Exact Name of Registrant as Specified in Charter)


Delaware
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(State or Other
Jurisdiction of
Incorporation)
0-22416
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(Commission
File Number)
61-1244541
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------
(I.R.S. Employer
Identification Number)


P.O. Box 3500
Ashland, Kentucky
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(Address of Principal Executive Offices)

41105-3500
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(Zip Code)


Registrant's telephone number, including area code:

(606) 929-1222
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Item 5.   Other Events.

	On December 27, 2002, Kentucky Electric Steel, Inc. (the
"Company") filed Form 12b-25 to obtain a 15 calendar day extension to
filing its annual report on Form 10-K for the fiscal year ended
September 28, 2002, extending the due date from December 27, 2002 to
January 11, 2003.  At that time the Company anticipated that during
the extension period (i) certain issues relating to the restructuring
of the Company's revolving credit facility and senior notes would be
resolved; and (ii) the audit of the Company's financial statements
would be completed.  As neither of these events has occurred, the
Company hereby gives notice that its Form 10-K filing will not be
timely filed.  Management is working diligently to complete the Form
10-K for filing with the SEC as soon as reasonably practicable.






SIGNATURE

	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.

						KENTUCKY ELECTRIC STEEL, INC.
						(Registrant)

Date:  January 10, 2003			By:
	William J. Jessie
Vice President - Finance,
Secretary, Treasurer
and Chief Financial Officer