UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Walsh, Kevin E.
1000 Urban Center Drive
Suite 300
Birmingham, AL 35242
USA
2. Issuer Name and Ticker or Trading Symbol
Birmingham Steel Corporation
BIR
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
08/12/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President - Chief Financial Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Birmingham Steel Corporatio| | | | | | | | | |
n | | | | | | | | | |
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Restricted Stock |08/10/|A | |8,000 |A |9.625 |8,000 |D | |
|98 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Options | |08/10|J |V|10,000 |A |08/10|08/10|Stock Option|10,000 |9.625 |10,000 |D | |
| |/98 | | | | |/99 |/08 |s | | | | | |
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| | |J |V|10,000 |A |08/10|08/10|Stock Option|10,000 |9.625 |10,000 |D | |
| | | | | | |/00 |/08 |s | | | | | |
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| | |J |V|10,000 |A |08/10|08/10|Stock Option|10,000 |9.625 |10,000 |D | |
| | | | | | |/01 |/08 |s | | | | | |
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| | |J |V|10,000 |A |08/10|08/10|Stock Option|10,000 |9.625 |10,000 |D | |
| | | | | | |/02 |/08 |s | | | | | |
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| | |J |V|10,000 |A |08/10|08/10|Stock Option|10,000 |9.625 |10,000 |D | |
| | | | | | |/03 |/08 |s | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
J - Granted Stock Options
08/10/98
SIGNATURE OF REPORTING PERSON
**Catherine W. Pecher is the Reporting Agent
DATE
08/12/98
