Item 8.01 Other Events.

On February 18, 2009, Friedman Industries, Incorporated (the "Company") issued a press release discussing United States Steel Corporation's idling of its Lone Star plant and the impact on the Company. The substance of the press release reads as follows:
As discussed in the Company's Quarterly Report on Form 10-Q filed on Friday, February 13, 2009, with the Securities and Exchange Commission, U.S. Steel Tubular Products, Inc., an affiliate of United States Steel Corporation, is the Company's primary supplier of tubular products and coil material used in pipe manufacturing and is a major customer of the Company's finished tubular goods. On February 13, 2009, U.S. Steel reported that it is temporarily idling its plant at Lone Star, Texas, due to weak market conditions. U.S. Steel's announcement also indicates that the idling is not permanent and that U.S. Steel will bring the plant back online as necessary to meet demand. As a result of this action by U.S. Steel, pending further developments, the Company currently expects to receive limited or possibly no orders from U.S. Steel for API pipe as well as diminished or possibly no supply of reject pipe from U.S. Steel. If the idling of the U.S. Steel plant in Lone Star, Texas, continues for a significant period of time, the loss of U.S. Steel as a supplier and customer could have a material adverse effect on the Company's business. In the short term, the Company intends to downsize its operations to a level commensurate with current market conditions.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Number Description
99.1 Press Release of Friedman Industries, Incorporated dated February 18, 2009.

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