IMCO RECYCLING INC
4, 1996-07-11
SECONDARY SMELTING & REFINING OF NONFERROUS METALS
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- --------                                       U.S. SECURITIES AND EXCHANGE COMMISSION                 -----------------------------
 FORM 4                                                WASHINGTON, D.C. 20549                                   OMB APPROVAL        
- --------                                                                                               -----------------------------
/ / CHECK THIS BOX IF NO                    STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP                OMB NUMBER:       3235-0287 
    LONGER SUBJECT TO                                                                                   EXPIRES:     APRIL 30, 1997 
    SECTION 16.  FORM 4 OR    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,   ESTIMATED AVERAGE BURDEN    
    FORM 5 OBLIGATIONS MAY       Section 17(a) of the Public Utility Holding Company Act of 1935 or     HOURS PER RESPONSE .... 0.5 
    CONTINUE.  SEE                       Section 30(f) of the Investment Company Act of 1940           -----------------------------
    INSTRUCTION 1(b).
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<S><C>
1. Name and Address of Reporting Person      2. Issuer Name and Ticker or Trading Symbol    6. Relationship of Reporting Person to
                                                                                                 Issuer (Check all applicable)
                                                                                                 X  Director             10% Owner
   ROMANELLI       FRANK            H.         IMCO Recycling Inc. (IMR)                       ----                 ----
- ---------------------------------------------------------------------------------------------    X  Officer (give        Other
    (Last)        (First)        (Middle)    3. IRS or Social Security  4. Statement for       ----          title  ---- (specify
                                                Number of Reporting        Month/Year                        below)       below
   5315 Oak Lake Drive                          Person (Voluntary)         June 1996                
- --------------------------------------------                            ---------------------       President and Chief
                  (Street)                                              5. If Amendment,            Executive Officer  
                                                                           Date of Original        --------------------------
                                                                           (Month/Year)
     Dallas        TX              75287        ###-##-####
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    (City)       (State)            (Zip)        TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security               2. Trans-   3. Trans-     4. Securities Acquired (A)    5. Amount of     6. Owner-   7. Nature
   (Instr. 3)                         action      action        or Disposed of (D)            Securities       ship        of In-
                                      Date        Code          (Instr. 3, 4 and 5)           Beneficially     Form:       direct
                                                  (Instr. 8)                                  Owned at         Direct      Bene-
                                     (Month/                                                  End of           (D) or      ficial
                                      Day/     -------------------------------------------    Month            Indirect    Owner-
                                      Year)                               (A) or                               (I)         ship
                                                Code    V       Amount    (D)     Price       (Instr. 3        (Instr. 4) (Instr. 4)
                                                                                              and 4)
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Common Stock                        06/27/1996    P              900      (A)     $18.1250     14,516           D
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Common Stock                                                                                       40           I  By spouse as 
                                                                                                                   custodian for son
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
                                                      (Print or Type Responses)                                      SEC 1474 (8-92)
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FORM 4 (CONTINUED)          TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                                   (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security     2. Conver-   3. Trans-   4. Transac-   5. Number of Deriv-      6. Date Exer-
   (Instr. 3)                          sion or      action      tion Code     ative Securities Ac-     cisable and Ex-
                                       Exercise     Date        (Instr. 8)    quired (A) or Dis-       piration Date
                                       Price of    (Month/                    posed of (D)             (Month/Day/
                                       Deriv-       Day/                      (Instr. 3, 4, and 5)     Year)
                                       ative        Year)
                                       Security

                                                                                                    --------------------

                                                                                                     Date      Expira-
                                                             --------------------------------------  Exer-     tion
                                                                                                     cisable   Date
                                                              Code    V        (A)        (D)
<S><C>
- ------------------------------------------------------------------------------------------------------------------------
Stock Option                            $13.3750                                                     (01)     12/15/2004
- ------------------------------------------------------------------------------------------------------------------------
Stock Option                            $22.7500                                                     (02)     12/15/2005
- ------------------------------------------------------------------------------------------------------------------------
Stock Option                            $23.7500                                                 07/02/1996   12/15/2004
- ------------------------------------------------------------------------------------------------------------------------
Stock Option                            $21.0000                                                 07/31/1996   12/15/2004
- ------------------------------------------------------------------------------------------------------------------------
Stock Option                            $21.5000                                                 08/08/1996   12/15/2004
- ------------------------------------------------------------------------------------------------------------------------

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<CAPTION>

- ------------------------------------------------------------------------------------------
7. Title and Amount of Under-       8. Price   9. Number     10. Owner-     11. Na-
   lying Securities                    of         of Deriv-      ship           ture
   (Instr. 3 and 4)                    Deriv-     ative          Form           of In-
                                       ative      Securi-        of De-         direct
                                       Secur-     ties           rivative       Bene-
                                       ity        Bene-          Secu-          ficial
                                       (Instr.    ficially       rity:          Own-
                                       5)         Owned          Direct         ership
                                                  at End         (D) or         (Instr. 4)
                     Amount or                    of             Indi-
       Title         Number of                    Month          rect (I)
                     Shares                       (Instr. 4)     (Instr. 4)
<S><C>
- ------------------------------------------------------------------------------------------
Common Stock         64,000                        64,000         D
- ------------------------------------------------------------------------------------------
Common Stock         18,050                        18,050         D
- ------------------------------------------------------------------------------------------
Common Stock          4,587                         4,587         D
- ------------------------------------------------------------------------------------------
Common Stock          3,635                         3,635         D
- ------------------------------------------------------------------------------------------
Common Stock          3,462                         3,462         D
- ------------------------------------------------------------------------------------------

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Explanation of Responses:

(01) Options become exercisable in five equal annual increments on the first five anniversary dates of the grant.

(02) Options become exercisable in three equal annual increments on the first three anniversary dates of the grant.





                                                                                          Frank H. Romanelli             7/10/96
                                                                                  -----------------------------------  -----------
**Intentional misstatements or omissions of facts constitute                        **Signature of Reporting Person       Date
  Federal Criminal Violations.  SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
      If space provided is insufficient, SEE Instruction 6 for procedure.
                                                                                                                              Page 2
                                                                                                                     SEC 1474 (8-92)
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