FORM 10-K/A

                  SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C.  20549

(Mark one)

[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]

For the fiscal year ended      November 30, 1995     
                          -----------------------------

                                  OR

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

For the transition period from                to                
                               ---------------    ---------------

Commission file number:  0-15838

                     NEW JERSEY STEEL CORPORATION
        ------------------------------------------------------
        (Exact name of registrant as specified in its charter)

            Delaware                              22-2137967           
 --------------------------------      --------------------------------
(State or other jurisdiction of        (IRS Employer Identification No.)
 incorporation or organization)

 North Crossman Road, Sayreville, New Jersey             08872        
---------------------------------------------    --------------------
  (Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code:  (908) 721-6600

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:

                    Common Stock, $ .01 par value          
           ------------------------------------------------
                           (Title of Class)

Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such
reports), and (2) has been subject to such filing requirements for
the past 90 days.

              Yes [ X ]                     No [   ]

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy
or information statements incorporated by reference in Part III of
this Form 10-K or any amendment to this Form 10-K.  [   ]

Aggregate market value of voting stock held by nonaffiliates: 
$20,020,688 based on the last sales price of such common stock on
February 14, 1996 as reported on the NASDAQ National Market System.

Number of shares of Common Stock, par value $.01 per share,
outstanding at February 14, 1996:  5,920,500.

DOCUMENTS INCORPORATED BY REFERENCE:  None


                            SIGNATURES

    Pursuant to the requirements of Section 13 or 15(b) of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

March 15, 1996

                             NEW JERSEY STEEL CORPORATION

                             By:/s/ Paul Roik                  
                                --------------------------------
                                Paul Roik, Vice President,
                                Finance and Treasurer


    Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed below by the following
persons on behalf of the registrant and in the capacities and on
the dates indicated:

    Signature                   Title               Date


/s/ H. Georg Hahnloser     Director, Chairman   March 15,1996
-------------------------  of the Board
H. Georg Hahnloser         (Principal Executive
                           Officer)

/s/ Paul Roik              Vice President -     March 15,1996
-------------------------  Finance
Paul Roik                  and Treasurer (Principal
                           Financial and Accounting
                           Officer)

/s/ Hans G. Trosch         Director             March 15,1996
-------------------------
Hans G. Trosch


                           Director             
-------------------------
Robert LeBuhn


/s/ Walter H. Beebe        Director             March 15,1996
-------------------------
Walter H. Beebe