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
Alvarado, Joseph
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
02/18/98
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 - Commercial
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>
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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 Common Stock | | | | | | | | | |
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Restricted Stock SAP 08/31/| |J |V|374 |A | |374 |D | |
97 | | | | | | | | | |
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Restricted Stock | | | | | | |8,000 |D | |
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<CAPTION>
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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>
Birmingham Steel Corpo| | | | | | | | | | | | | | |
ration | | | | | | | | | | | | | | |
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Right to Buy Common St| | | | | | | | | | | | | | |
ock | | | | | | | | | | | | | | |
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Stock Options | | | | | | | | | | | |10,000 |D | |
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| | | | | | | | | | | |10,000 |D | |
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| | | | | | | | | | | |10,000 |D | |
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| | | | | | | | | | | |10,000 |D | |
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| | | | | | | | | | | |10,000, |D | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
J - Restricted Stock issued under the Stock Accumulation
Plan
SIGNATURE OF REPORTING PERSON
Catherine W. Pecher is the Reporting Agent
DATE
02/18/98
