SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LEWIS CAROL S

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SCHNITZER STEEL INDUSTRIES INC [ SCHN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/01/2003		C		40,000	A	0	40,000	I	By Voting Trust⁽¹⁾
Class A Common Stock	07/01/2003		Z	V	40,000	D	0	0	I	By Voting Trust⁽¹⁾
Class A Common Stock	07/01/2003		Z	V	40,000	A	0	34,000⁽²⁾	I	By Trust⁽¹⁾
Class A Common Stock	07/01/2003		S		4,000	D	43.467	30,000	I	By Trust⁽¹⁾
Class A Common Stock	07/01/2003		S		2,000	D	43.291	28,000	I	By Trust⁽¹⁾
Class A Common Stock	07/01/2003		S		2,000	D	43.2267	26,000	I	By Trust⁽¹⁾
Class A Common Stock	07/01/2003		S		2,000	D	43.2107	24,000	I	By Trust⁽¹⁾
Class A Common Stock	07/01/2003		S		4,000	D	42.6882	20,000	I	By Trust⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	0⁽³⁾	07/01/2003		C			40,000	08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common Stock	40,000	$0	236,594⁽⁴⁾	I	By Voting Trust⁽¹⁾

Explanation of Responses:

1. Voting trust certificates or shares, as the case may be, are held by Carol S. Lewis and Marilyn Easly, as Trustees U/A/D February 8, 1989 with Manuel Schnitzer.

2. 6,000 shares of the 40,000 shares Class A Common Stock reported on this form as having been issued on conversion of Class B Common Stock and then distributed from the Voting Trust, were delivered to cover a recently-reported sale of such stock. Accordingly, 34,000 shares of Class A Common Stock were held after the conversion and delivery of such shares.

3. Class B Common Stock is immediately convertible on a one-for-one basis into Class A Common Stock and has no expiration date.

4. The reporting person has additional indirect beneficial ownership of Class B Common Stock, which is immediately convertible on a one-for-one basis into Class A Common Stock and has no expiration date. The reporting person's additional Class B Common Stock ownership is as follows: 60,000 shares, held by Carol Lewis, Trustee for Carol Lewis, et al., under Trust Agreement dated January 30, 1970; and 141,804 shares, represented by voting trust certificates held by Carol S. Lewis, U/A/D January 11, 1999 with Carol S. Lewis.

	Charles A. Ford, Attorney-In-Fact	07/02/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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