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  <p  align=right><font size="2" face="Times New Roman"><b>As filed with the Securities and Exchange Commission on ____________<br> Registration No. 333-____________</b></font></p>
  
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  <font size="5" face="Times New Roman"><b>SECURITIES AND EXCHANGE COMMISSION</b></font>
  <font size="3"><b><br> Washington, D.C.&#160; 20549</b></font></p>
  
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  <font size="5" face="Times New Roman"><b>Form S-8</b></font></p>
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  <font size="3" face="Times New Roman"><b>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></font></p>
  
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  <font size="6" face="Times New Roman"><b>OREGON STEEL MILLS, INC.</b><br></font>
  <font size="1" face="Times New Roman"><b>(Exact name of registrant as specified in its charter)</b></font></p>
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  <font size="2" face="Times New Roman"><b>Delaware</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="2" face="Times New Roman"><b>94-0506370</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>(State or   other jurisdiction of<br>   incorporation or organization)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>(I.R.S.   Employer<br>   Identification No.)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p  align="center"><font size="2" face="Times New Roman"><b>1000 S.W. Broadway, Suite 2200<br>   Portland, Oregon</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="2" face="Times New Roman"><b>97205</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>(Address   of Principal Executive Offices)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>(Zip Code)</b></font></p>  </td>
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  <BR>
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  <font size="2" face="Times New Roman"><b>2005 Long-Term Incentive Plan</b></font></p>  </td>
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  <font size="1" face="Times New Roman"><b>(Full   title of the plan)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="2" face="Times New Roman"><b>James E. Declusin</b></font></p>  </td>
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  <font size="2" face="Times New Roman"><b>President and Chief Executive   Officer</b></font></p>  </td>
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    <p  align="center"><font size="2" face="Times New Roman"><b>1000 S.W. Broadway, Suite 2200</b></font></p>  </td>
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  <font size="2" face="Times New Roman"><b>Portland, Oregon 97205</b></font></p>  </td>
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  <font size="1" face="Times New Roman"><b>(Name and   address of agent for service)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="2" face="Times New Roman"><b>503.223.9228</b></font></p>  </td>
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  <font size="1" face="Times New Roman"><b>(Telephone   number, including area code,<br>   of agent for service)</b></font></p>  </td>
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  <font size="2" face="Times New Roman"><b>Copy to:<br> Carmen M. Calzacorta<br> Schwabe, Williamson &amp; Wyatt, P.C.<br> 1211 S.W. Fifth Avenue, 18th Floor, Pacwest Center<br> Portland, Oregon&#160; 97204<br> 503.222.9981</b></font></p>
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  <font size="2" face="Times New Roman"><b>Calculation of Registration Fee</b></font></p>
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    <p><font size="1" face="Times New Roman"><b>Title of Securities to be<br>   Registered</b></font></p>  </td>
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    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>Amount to   be<br>   Registered</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>Proposed   Maximum<br>   Offering Price Per<br>   Share</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>Proposed   Maximum<br>   Aggregate Offering Price</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman"><b>Amount of<br>   Registration Fee</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <td width="2%" valign="bottom">
    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <td width="12%" valign="bottom">
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="1%" valign="bottom">
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    <td width="12%" valign="bottom">
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="1%" valign="bottom">
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    <td width="14%" valign="bottom">
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <td width="15%" valign="bottom">
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman">Common Stock, $.01 par value</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">500,000 shares</font></p>  </td>
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  <font size="2" face="Times New Roman">(2)</font></p>  </td>
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  <font size="2" face="Times New Roman">$</font></p>  </td>
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  <font size="2" face="Times New Roman">26.66</font></p>  </td>
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  <font size="2" face="Times New Roman">(1)</font></p>  </td>
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  <font size="2" face="Times New Roman">$</font></p>  </td>
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  <font size="2" face="Times New Roman">13,330,000</font></p>  </td>
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  <font size="2" face="Times New Roman">(1)</font></p>  </td>
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  <font size="2" face="Times New Roman">$</font></p>  </td>
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  <font size="2" face="Times New Roman">1,568.94</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(1)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">This estimate is based on the average of the high   and low sales prices of the common stock of Oregon Steel Mills, Inc., as   reported on the New York Stock Exchange on September 15, 2005 pursuant to   Rule 457(c) and (h), solely for purposes of determining the registration fee.</font></p>  </td>
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    <p><font size="2" face="Times New Roman">(2)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Pursuant to Rule 416, also covers additional   securities that may be issuable as a result of stock splits, stock dividends   recapitalizations or similar transactions.</font></p>  </td>
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  <br>
  
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  <font size="2" face="Times New Roman"><b>PART I<br> INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</b></font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information required to be included in Part I of this Registration Statement will be sent or given to the participants in the 2005 Long-Term Incentive Plan as specified by Rule 428.&#160; Pursuant to Rule 424, those documents are not required to be filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements.&#160; Those documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act of 1933, as amended (the &#147;<b>Securities Act</b>&#148;).</font></p>
  <p  align="center">
  <font size="2" face="Times New Roman">I-1</font></p>
  
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  <br>
  
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  <font size="2" face="Times New Roman"><b>PART II<br> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 3.&#160; Incorporation of Documents by Reference</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC allows us to &#147;incorporate by reference&#148; the documents that we file with them pursuant to the Securities Exchange Act of 1934 (the &#147;<b>Exchange Act</b>&#148;).&#160; This means that we can disclose important information to you by referring to those documents.&#160; The information in the documents incorporated by reference is considered to be part of this Registration Statement, and information in documents that we file with the SEC in the future will automatically update and supersede this information.&#160; We have filed the following documents with the SEC, which are incorporated by reference in this Registration Statement:</font></p>
  
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(a)</font></p>  </td>
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  <font size="2" face="Times New Roman">Annual report on Form 10-K for the year ended   December 31, 2004;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(b)</font></p>  </td>
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  <font size="2" face="Times New Roman">Quarterly report on Form 10-Q for the quarter ended   March 31, 2005;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(c)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Quarterly report on Form 10-Q for the quarter ended   June 30, 2005;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(d)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Current Reports on Form 8-K filed on February 1,   February 10, March 7, April 1, May 5, August 3 and September 7, 2005; and</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman">(e)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">The description of our common stock contained in our   Registration Statement on Form 8-A and any amendment or report filed for the   purpose of updating such description.</font></p>  </td>
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  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents we file pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than current reports furnished under Item 2.02 or 7.01 of Form 8-K and other information in future filings deemed, under SEC rules, not to have been filed) after the date of this Registration Statement and prior to the filing of a post-effective amendment that indicates that all the securities offered hereby have been sold or that deregisters all the securities remaining unsold, will be deemed to be incorporated by reference in this Registration Statement and to be a part of this Registration Statement from the date of the filing of such documents.</font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 4.&#160; Description of Securities</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 5.&#160; Interests of Named Experts and Counsel</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
  
  <p><font size="2" face="Times New Roman"><b>Item 6.&#160; Indemnification of Directors and Officers</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a Delaware corporation.&#160; Section 145 of the General Corporation Law of the State of Delaware (the &#147;<b>GCL</b>&#148;) provides, in summary, that a corporation may indemnify a director, officer, employee or agent of a corporation (i) in the case of third-party claims, against certain expenses incurred by such person in connection with any action, suit or proceeding brought or threatened against such person by reason of the fact that he or she is or was a director, officer, employee or agent of the corporation, if such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and (ii) in the case of actions by or in the right of the corporation, against certain expenses incurred by such person in connection with the defense or settlement of such an action, if such person acted in good faith and in a
  manner he or she reasonably</font></p>
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  <font size="2" face="Times New Roman">II-1</font></p>
  
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  <font size="2" face="Times New Roman">believed to be in or not opposed to the best interests of the corporation; provided, however<i>, </i>that, in the case of actions by or in the right of the corporation, if such person is adjudged to be liable to the corporation, no indemnification can be made unless a court determines that such person is fairly and reasonably entitled to indemnification.&#160; Indemnification also is authorized with respect to any criminal action or proceeding where, in addition to the criteria stated under (i) above, a director, officer, employee or agent had no reasonable cause to believe that his or her conduct was unlawful.&#160; Section 145 of the GCL furthermore provides that a corporation must indemnify a director, officer, employee or agent of the corporation to the extent that he or she is successful on the merits or otherwise in defending any of the actions, suits or proceedings described above.&#160; </font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s Restated Certificate of Incorporation (the &#147;<b>Restated Certificate</b>&#148;) and Bylaws provide for the indemnification by the Registrant of directors, officers, employees and agents to the fullest extent permitted by Section 145 of the Delaware GCL.&#160; Additionally, Section&nbsp;145 of the Delaware GCL permits a corporation to purchase and maintain insurance on behalf of its directors, officers, employees and agents against any liability asserted against such persons and incurred by such persons, or arising out of such persons&#146; status as such.&#160; The Registrant maintains an insurance policy covering its directors and officers against such liability.&#160; </font></p>
  
  <p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant also has entered into indemnification agreements with certain directors and executive officers.&#160; The agreements provide that the Registrant will indemnify the director or officer to the fullest extent allowed by the Restated Certificate and applicable law.&#160; In addition, the agreements provide that the Registrant will indemnify the director or officer for all expenses and liabilities relating to any proceeding in which the director or officer is made a party by reason of being an agent of the Registrant.&#160; The agreements also provide for mandatory insurance coverage for the director or officer.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 102 of the Delaware GCL provides that a corporation, in its Certificate of Incorporation, may eliminate the personal liability of its directors to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, other than liability for (1) any breach of the director&#146;s duty of loyalty to the corporation or its stockholders, (2) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) any transaction from which the director derived an improper personal benefit and (4) unlawful payment of dividends or unlawful stock purchases or redemptions.&#160; The Restated Certificate provides for the elimination, to the fullest extent permitted by law, of personal liability of its directors for monetary damages for breach of fiduciary duty as a director.&#160; Reference is made to the Restated Certificate of
  Incorporation filed as Exhibit 3.1 to the Company&#146;s quarterly report on Form 10-Q for the quarter ended June 30, 2003.</font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 7.&#160; Exemption from Registration Claimed</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 8.&#160; Exhibits</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Exhibit Index.</font></p>
  <p>
  <font size="2" face="Times New Roman"><b>Item 9.&#160; Undertakings</b>.</font></p>
  <p>
  <font size="2" face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:&#160; </font></p>
  
  <table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">
  
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To   file, during any period in which offers or sales are being made, a   post-effective amendment to this Registration Statement:</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td width="5%" valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="5%" valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="5%" valign="top">
    <p>
  <font size="2" face="Times New Roman">(i)</font></p>  </td>
    <td width="85%" valign="top">
    <p>
  <font size="2" face="Times New Roman">to include any prospectus required by Section   10(a)(3) of the Securities Act of 1933;</font></p>  </td>
   </tr>
  </table>
  
  <p  align="center">
  <font size="2" face="Times New Roman">II-2</font></p>
  
  <div style="page-break-before:always"></div>
  <PAGE>
  <br>
  
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    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="5%" valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="5%" valign="top">
    <p>
  <font size="2" face="Times New Roman">(ii)</font></p>  </td>
    <td width="85%" valign="top">
    <p>
  <font size="2" face="Times New Roman">to reflect in the prospectus any facts or events   arising after the effective date of this Registration Statement (or the most   recent post-effective amendment thereof) which, individually or in the   aggregate, represent a fundamental change in the information set forth in   this Registration Statement.&#160;   Notwithstanding the foregoing, any increase or decrease in volume of   securities offered (if the total dollar value of securities offered would not   exceed that which was registered) and any deviation from the low or high end   of the estimated maximum offering range may be reflected in the form of   prospectus filed with the Commission pursuant to Rule 424(b) if, in the   aggregate, the changes in volume and price represent no more than a 20%   change in the maximum aggregate offering price set forth in the &#147;Calculation   of Registration Fee&#148; table in the effective registration statement ; and</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">(iii)</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">to include any material information with respect to   the plan of distribution not previously disclosed in this Registration   Statement or any material change to such information in this Registration   Statement;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided,   however, that clauses (1)(i) and (1)(ii) do not apply if the registration   statement is on Form S-3, Form S-8 or Form F-3 and the information required   to be included in a post-effective amendment by those clauses is contained in   periodic reports filed with or furnished to the Commission by the Registrant   pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of   1934 that are incorporated by reference into this Registration Statement;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided   further, however, that clauses (1)(i) and (1)(ii) do not apply if the   registration statement is for an offering of asset-backed securities on Form   S-1 or Form S-3, and the information required to be included in a   post-effective amendment is provided pursuant to Item&nbsp;1100(c) of   Regulation AB;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,   for the purpose of determining any liability under the Securities Act of   1933, each such post-effective amendment shall be deemed to be a new   registration statement relating to the securities offered therein, and the   offering of such securities at that time shall be deemed to be the initial   bona fide offering thereof; and</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  colspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To   remove from registration by means of a post-effective amendment any of the   securities being registered which remain unsold at the termination of the   offering.</font></p>  </td>
   </tr>
  </table>
  
  <p><font size="2" face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant&#146;s Annual Report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>
  <p>
  <font size="2" face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.&#160; In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
  appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</font></p>
  <p  align="center">
  <font size="2" face="Times New Roman">II-3</font></p>
  
  <div style="page-break-before:always"></div>
  <PAGE>
  <br>
  
  <p  align="center">
  <font size="2" face="Times New Roman"><b><u>SIGNATURES</u></b></font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Portland, State of Oregon, on September 6, 2005. </font></p>
  
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="45%" valign="bottom">
    <p>
  <font size="2" face="Times New Roman"><b>OREGON   STEEL MILLS, INC.</b></font></p>  </td>
   </tr>
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    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ James E. Declusin</font></p>  </td>
   </tr>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
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    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">James E. Declusin, President and Chief</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Executive Officer</font></p>  </td>
   </tr>
  </table>
  
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints each of L. Ray Adams and Jeff S. Stewart his true and lawful attorney-in-fact and agent, each with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any or all amendments to this Registration Statement, and to file the same with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agent with full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done hereof.</font></p>
  
  <p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.</font></p>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="70%" valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ James E. Declusin</font></p>  </td>
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    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">James E. Declusin, President, Chief Executive   Officer</font></p>  </td>
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    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">and Director (Principal Executive Officer)</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
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    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ L. Ray Adams</font></p>  </td>
   </tr>
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    <td  valign="bottom">
    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <hr size="1" width="100%" noshade color=black>
  
    </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">L. Ray Adams, Chief Financial Officer, Vice   President</font></p>  </td>
   </tr>
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    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Finance and CFO (Principal Financial Officer)</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 9, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Robin A. Gantt</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <hr size="1" width="100%" noshade color=black>
  
    </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Robin A. Gantt, Corporate Controller (Principal</font></p>  </td>
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    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Accounting Officer)</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Harry L. Demorest</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Harry L. Demorest, Director</font></p>  </td>
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    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ William P. Kinnune</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">William P. Kinnune, Director</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p><font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Carl W. Neun</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Carl W. Neun , Director</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ David L. Parkinson</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">David L. Parkinson, Director</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 3, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Stephen P. Reynolds</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Stephen P. Reynolds, Director</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 7, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Frank M. Walker</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Frank M. Walker, Director</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Date: September 6, 2005</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">/s/ Bret Wilcox</font></p>  </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="bottom">
    <p>
  <font size="2" face="Times New Roman">Bret Wilcox, Director</font></p>  </td>
   </tr>
  </table>
  
  <p  align="center">
  <font size="2" face="Times New Roman">II-4</font></p>
  
  <div style="page-break-before:always"></div>
  <PAGE>
  <br>
  
  <p  align="center">
  <font size="2" face="Times New Roman"><b><u>Exhibit Index</u></b></font></p>
  <table align="center"  border="0" style="border-collapse:collapse" cellspacing="0"  cellpadding="0"  width="100%">
  
   <tr>
    <td width="15%" valign="top">
    <p>
  <font size="1" face="Times New Roman"><b>Exhibit Number</b></font></p>  </td>
    <td width="5%" valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="80%" valign="top">
    <p>
  <font size="1" face="Times New Roman"><b>Description of Exhibit</b></font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">5.1</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Opinion of Schwabe, Williamson &amp; Wyatt, P.C.   (and Consent).</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">23.1</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Consent of Independent Registered Public Accounting   Firm &#150; KPMG LLP</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">23.2</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Consent of Independent Registered Public Accounting   Firm &#150; PricewaterhouseCoopers LLP</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">23.3</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Consent of Schwabe, Williamson &amp; Wyatt, P.C. is   contained in Exhibit 5.1.</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">24.1</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Powers of Attorney of directors and officers of the   Registrant are included on the signature page of this Registration Statement</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
   </tr>
   <tr>
    <td  valign="top">
    <p><font size="2" face="Times New Roman">99.1</font></p>  </td>
    <td  valign="top">
    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p><font size="2" face="Times New Roman">2005 Long-Term Incentive Plan (previously filed as   exhibit 10.1 to the Company&#146;s Form 10-Q for the period ended June 30, 2005,   and incorporated herein by reference)</font></p>  </td>
   </tr>
  </table>
  
  <p  align="center"><font size="2" face="Times New Roman">II-5</font></p>
  
  
  
  </body>
  
  </html>
metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "os101200.htm", "description": "FORM S-8", "secsgml_size_bytes": 53749}]
metadata_filer: {"company-data": {"conformed-name": "OREGON STEEL MILLS INC", "cik": "0000830260", "assigned-sic": "3312", "irs-number": "940506370", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-128507", "film-number": "051098868"}, "business-address": {"street1": "1000 SW BROADWAY", "street2": "STE 2200", "city": "PORTLAND", "state": "OR", "zip": "97205", "phone": "5032405788"}, "mail-address": {"street1": "PO BOX 5368", "city": "PORTLAND", "state": "OR", "zip": "97228"}}
text: As filed with the Securities and Exchange Commission on ____________
  Registration No. 333-____________
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C.  20549
  Form S-8
  REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
  OREGON STEEL MILLS, INC.
  (Exact name of registrant as specified in its charter)
  Delaware
  94-0506370
  (State or   other jurisdiction of
  incorporation or organization)
  (I.R.S.   Employer
  Identification No.)
  1000 S.W. Broadway, Suite 2200
  Portland, Oregon
  97205
  (Address   of Principal Executive Offices)
  (Zip Code)
  2005 Long-Term Incentive Plan
  (Full   title of the plan)
  James E. Declusin
  President and Chief Executive   Officer
  1000 S.W. Broadway, Suite 2200
  Portland, Oregon 97205
  (Name and   address of agent for service)
  503.223.9228
  (Telephone   number, including area code,
  of agent for service)
  Copy to:
  Carmen M. Calzacorta
  Schwabe, Williamson & Wyatt, P.C.
  1211 S.W. Fifth Avenue, 18th Floor, Pacwest Center
  Portland, Oregon  97204
  503.222.9981
  Calculation of Registration Fee
  Title of Securities to be
  Registered
  Amount to   be
  Registered
  Proposed   Maximum
  Offering Price Per
  Share
  Proposed   Maximum
  Aggregate Offering Price
  Amount of
  Registration Fee
  Common Stock, $.01 par value
  500,000 shares
  (2)
  $
  26.66
  (1)
  $
  13,330,000
  (1)
  $
  1,568.94
  (1)
  This estimate is based on the average of the high   and low sales prices of the common stock of Oregon Steel Mills, Inc., as   reported on the New York Stock Exchange on September 15, 2005 pursuant to   Rule 457(c) and (h), solely for purposes of determining the registration fee.
  (2)
  Pursuant to Rule 416, also covers additional   securities that may be issuable as a result of stock splits, stock dividends   recapitalizations or similar transactions.
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  The documents containing the information required to be included in Part I of this Registration Statement will be sent or given to the participants in the 2005 Long-Term Incentive Plan as specified by Rule 428.  Pursuant to Rule 424, those documents are not required to be filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements.  Those documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act of 1933, as amended (the "
  Securities Act
  ").
  I-1
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.  Incorporation of Documents by Reference
  .
  The SEC allows us to "incorporate by reference" the documents that we file with them pursuant to the Securities Exchange Act of 1934 (the "
  Exchange Act
  ").  This means that we can disclose important information to you by referring to those documents.  The information in the documents incorporated by reference is considered to be part of this Registration Statement, and information in documents that we file with the SEC in the future will automatically update and supersede this information.  We have filed the following documents with the SEC, which are incorporated by reference in this Registration Statement:
  (a)
  Annual report on Form 10-K for the year ended   December 31, 2004;
  (b)
  Quarterly report on Form 10-Q for the quarter ended   March 31, 2005;
  (c)
  Quarterly report on Form 10-Q for the quarter ended   June 30, 2005;
  (d)
  Current Reports on Form 8-K filed on February 1,   February 10, March 7, April 1, May 5, August 3 and September 7, 2005; and
  (e)
  The description of our common stock contained in our   Registration Statement on Form 8-A and any amendment or report filed for the   purpose of updating such description.
  All documents we file pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than current reports furnished under Item 2.02 or 7.01 of Form 8-K and other information in future filings deemed, under SEC rules, not to have been filed) after the date of this Registration Statement and prior to the filing of a post-effective amendment that indicates that all the securities offered hereby have been sold or that deregisters all the securities remaining unsold, will be deemed to be incorporated by reference in this Registration Statement and to be a part of this Registration Statement from the date of the filing of such documents.
  Item 4.  Description of Securities
  .
  Not applicable.
  Item 5.  Interests of Named Experts and Counsel
  .
  Not applicable.
  Item 6.  Indemnification of Directors and Officers
  .
  The Company is a Delaware corporation.  Section 145 of the General Corporation Law of the State of Delaware (the "
  GCL
  ") provides, in summary, that a corporation may indemnify a director, officer, employee or agent of a corporation (i) in the case of third-party claims, against certain expenses incurred by such person in connection with any action, suit or proceeding brought or threatened against such person by reason of the fact that he or she is or was a director, officer, employee or agent of the corporation, if such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and (ii) in the case of actions by or in the right of the corporation, against certain expenses incurred by such person in connection with the defense or settlement of such an action, if such person acted in good faith and in a
  manner he or she reasonably
  II-1
  believed to be in or not opposed to the best interests of the corporation; provided, however
  ,
  that, in the case of actions by or in the right of the corporation, if such person is adjudged to be liable to the corporation, no indemnification can be made unless a court determines that such person is fairly and reasonably entitled to indemnification.  Indemnification also is authorized with respect to any criminal action or proceeding where, in addition to the criteria stated under (i) above, a director, officer, employee or agent had no reasonable cause to believe that his or her conduct was unlawful.  Section 145 of the GCL furthermore provides that a corporation must indemnify a director, officer, employee or agent of the corporation to the extent that he or she is successful on the merits or otherwise in defending any of the actions, suits or proceedings described above.
  The Registrant's Restated Certificate of Incorporation (the "
  Restated Certificate
  ") and Bylaws provide for the indemnification by the Registrant of directors, officers, employees and agents to the fullest extent permitted by Section 145 of the Delaware GCL.  Additionally, Section 145 of the Delaware GCL permits a corporation to purchase and maintain insurance on behalf of its directors, officers, employees and agents against any liability asserted against such persons and incurred by such persons, or arising out of such persons' status as such.  The Registrant maintains an insurance policy covering its directors and officers against such liability.
  The Registrant also has entered into indemnification agreements with certain directors and executive officers.  The agreements provide that the Registrant will indemnify the director or officer to the fullest extent allowed by the Restated Certificate and applicable law.  In addition, the agreements provide that the Registrant will indemnify the director or officer for all expenses and liabilities relating to any proceeding in which the director or officer is made a party by reason of being an agent of the Registrant.  The agreements also provide for mandatory insurance coverage for the director or officer.
  Section 102 of the Delaware GCL provides that a corporation, in its Certificate of Incorporation, may eliminate the personal liability of its directors to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, other than liability for (1) any breach of the director's duty of loyalty to the corporation or its stockholders, (2) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) any transaction from which the director derived an improper personal benefit and (4) unlawful payment of dividends or unlawful stock purchases or redemptions.  The Restated Certificate provides for the elimination, to the fullest extent permitted by law, of personal liability of its directors for monetary damages for breach of fiduciary duty as a director.  Reference is made to the Restated Certificate of
  Incorporation filed as Exhibit 3.1 to the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2003.
  Item 7.  Exemption from Registration Claimed
  .
  Not applicable.
  Item 8.  Exhibits
  .
  See Exhibit Index.
  Item 9.  Undertakings
  .
  A.      The undersigned Registrant hereby undertakes:
  (1)               To   file, during any period in which offers or sales are being made, a   post-effective amendment to this Registration Statement:
  (i)
  to include any prospectus required by Section   10(a)(3) of the Securities Act of 1933;
  II-2
  (ii)
  to reflect in the prospectus any facts or events   arising after the effective date of this Registration Statement (or the most   recent post-effective amendment thereof) which, individually or in the   aggregate, represent a fundamental change in the information set forth in   this Registration Statement.    Notwithstanding the foregoing, any increase or decrease in volume of   securities offered (if the total dollar value of securities offered would not   exceed that which was registered) and any deviation from the low or high end   of the estimated maximum offering range may be reflected in the form of   prospectus filed with the Commission pursuant to Rule 424(b) if, in the   aggregate, the changes in volume and price represent no more than a 20%   change in the maximum aggregate offering price set forth in the "Calculation   of Registration Fee" table in the effective registration statement ; and
  (iii)
  to include any material information with respect to   the plan of distribution not previously disclosed in this Registration   Statement or any material change to such information in this Registration   Statement;
  provided,   however, that clauses (1)(i) and (1)(ii) do not apply if the registration   statement is on Form S-3, Form S-8 or Form F-3 and the information required   to be included in a post-effective amendment by those clauses is contained in   periodic reports filed with or furnished to the Commission by the Registrant   pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of   1934 that are incorporated by reference into this Registration Statement;
  provided   further, however, that clauses (1)(i) and (1)(ii) do not apply if the   registration statement is for an offering of asset-backed securities on Form   S-1 or Form S-3, and the information required to be included in a   post-effective amendment is provided pursuant to Item 1100(c) of   Regulation AB;
  (2)               That,   for the purpose of determining any liability under the Securities Act of   1933, each such post-effective amendment shall be deemed to be a new   registration statement relating to the securities offered therein, and the   offering of such securities at that time shall be deemed to be the initial   bona fide offering thereof; and
  (3)               To   remove from registration by means of a post-effective amendment any of the   securities being registered which remain unsold at the termination of the   offering.
  B.      The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's Annual Report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  C.      Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
  appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
  II-3
  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Portland, State of Oregon, on September 6, 2005.
  OREGON   STEEL MILLS, INC.
  /s/ James E. Declusin
  James E. Declusin, President and Chief
  Executive Officer
  Each person whose signature appears below constitutes and appoints each of L. Ray Adams and Jeff S. Stewart his true and lawful attorney-in-fact and agent, each with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any or all amendments to this Registration Statement, and to file the same with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agent with full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done hereof.
  Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.
  Date: September 6, 2005
  /s/ James E. Declusin
  James E. Declusin, President, Chief Executive   Officer
  and Director (Principal Executive Officer)
  Date: September 6, 2005
  /s/ L. Ray Adams
  L. Ray Adams, Chief Financial Officer, Vice   President
  Finance and CFO (Principal Financial Officer)
  Date: September 9, 2005
  /s/ Robin A. Gantt
  Robin A. Gantt, Corporate Controller (Principal
  Accounting Officer)
  Date: September 6, 2005
  /s/ Harry L. Demorest
  Harry L. Demorest, Director
  Date: September 6, 2005
  /s/ William P. Kinnune
  William P. Kinnune, Director
  Date: September 6, 2005
  /s/ Carl W. Neun
  Carl W. Neun , Director
  Date: September 6, 2005
  /s/ David L. Parkinson
  David L. Parkinson, Director
  Date: September 3, 2005
  /s/ Stephen P. Reynolds
  Stephen P. Reynolds, Director
  Date: September 7, 2005
  /s/ Frank M. Walker
  Frank M. Walker, Director
  Date: September 6, 2005
  /s/ Bret Wilcox
  Bret Wilcox, Director
  II-4
  Exhibit Index
  Exhibit Number
  Description of Exhibit
  5.1
  Opinion of Schwabe, Williamson & Wyatt, P.C.   (and Consent).
  23.1
  Consent of Independent Registered Public Accounting   Firm – KPMG LLP
  23.2
  Consent of Independent Registered Public Accounting   Firm – PricewaterhouseCoopers LLP
  23.3
  Consent of Schwabe, Williamson & Wyatt, P.C. is   contained in Exhibit 5.1.
  24.1
  Powers of Attorney of directors and officers of the   Registrant are included on the signature page of this Registration Statement
  99.1
  2005 Long-Term Incentive Plan (previously filed as   exhibit 10.1 to the Company's Form 10-Q for the period ended June 30, 2005,   and incorporated herein by reference)
  II-5