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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 12b-25

                        Commission File Number: 0-22496

                           NOTIFICATION OF LATE FILING


(Check One):  [X]  Form 10-K     [_]  Form 20-F     [_]  Form 11-K
              [_]  Form 10-Q     [_]  Form N-SAR



For Period Ended:
August 31, 2004_________________________

[_]  Transition Report on Form 10-K 
[_]  Transition Report on Form 20-F 
[_]  Transition Report on Form 11-K 
[_]  Transition Report on Form 10-Q 
[_]  Transition Report on Form N-SAR

For the Transitional Period Ended: ______________________

Read Instruction (on back page) Before Preparing Form. Please Print or Type
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

________________________________________________________________________________
PART I - REGISTRANT INFORMATION


Schnitzer Steel Industries, Inc.
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Full Name of Registrant



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Former Name if Applicable


3200 N.W. Yeon Ave., P.O. Box  10047
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Address of Principal Executive Office (Street and Number)


Portland, OR 97296-0047
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City, State and Zip Code

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PART II - RULES 12B-25(B) AND (C)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

     | (a) The reasons described in reasonable detail in Part III of this form 
     |     could not be eliminated without unreasonable effort or expense; 
     | (b) The subject annual report, semi-annual report, transition report on 
     |     Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will
  [X]|     be filed on or before the fifteenth calendar day following the 
     |     prescribed due date; or the subject quarterly report of transition 
     |     report on Form 10-Q, or portion thereof will be filed on or before 
     |     the fifth calendar day following the prescribed due date; and 
     | (c) The accountant's statement or other exhibit required by Rule 
     |     12b-25(c) has been attached if applicable.




PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.

Schnitzer cannot file its Form 10K on time because the company has not yet
completed a compliance review concerning sales in the Far East. The review will
be completed within the next several days.

                         (Attach Extra Sheets if Needed)




PART IV - OTHER INFORMATION

(1)   Name and telephone number of person to contact in regard to this 
      notification.

      Barry A. Rosen       503           224-9900
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         (Name)        (Area Code)   (Telephone Number)

(2)   Have all other periodic reports required under Section 13 or 15(d) of the
      Securities Exchange Act of 1934 or Section 30 of the Investment Company
      Act of 1940 during the preceding 12 months or for such shorter period that
      the registrant was required to file such report(s) been filed? If answer
      is no, identify report(s).  [X] Yes   [_] No

(3)   Is it anticipated that any significant change in results of operations
      from the corresponding period for the last fiscal year will be reflected
      by the earnings statements to be included in the subject report or portion
      thereof?   [_] Yes   [X] No

If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.


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                        Schnitzer Steel Industries, Inc.
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                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.



Date:   November 15, 2004                   By:  Barry A. Rosen
        -----------------                        ---------------------------
                                                 Vice President, Finance and
                                                 Chief Financial Officer


INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.


+----------------------------------ATTENTION-----------------------------------+
            INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
                FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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                              GENERAL INSTRUCTIONS

1.   This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
     Rules and Regulations under the Securities Exchange Act of 1934.

2.   One signed original and four conformed copies of this form and amendments
     thereto must be completed and filed with the Securities and Exchange
     Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
     General Rules and Regulations under the Act. The information contained in
     or filed with the form will be made a matter of public record in the
     Commission files.

3.   A manually signed copy of the form and amendments thereto shall be filed
     with each national securities exchange on which any class of securities of
     the registrant is registered.

4.   Amendments to the notifications must also be filed on form 12b-25 but need
     not restate information that has been correctly furnished. The form shall
     be clearly identified as an amended notification.

5.   Electronic Filers. This form shall not be used by electronic filers unable
     to timely file a report solely due to electronic difficulties. Filers
     unable to submit a report within the time period prescribed due to
     difficulties in electronic filing should comply with either Rule 201 or
     Rule 202 of Regulation S-T ((S) 232.201 or (S) 232.202 of this chapter) or
     apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation
     S-T ((S) 232.13(b) of this chapter).