Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HAMADA ROBERT S
   2. Issuer Name and Ticker or Trading Symbol
CASTLE A M & CO [CAS] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
3400 NORTH WOLF ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
05/30/2008
(Street)

FRANKLIN PARK, IL 60131		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/30/2008   M   1,500 A $ 22.4375 9,717 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 22.4375 05/30/2008   M     1,500 06/01/1999 06/01/2008 Common Stock 1,500 $ 22.4375 0 D  
Stock Options (Right to Buy) $ 15.06             06/01/2000 06/01/2009 Common Stock 1,500   1,500 D  
Stock Options (Right to Buy) $ 12.31             06/01/2001 06/01/2010 Common Stock 1,500   1,500 D  
Stock Options (Right to Buy) $ 10             07/27/2001 07/27/2010 Common Stock 3,500   3,500 D  
Stock Options (Right to Buy) $ 13             06/01/2002 06/01/2011 Common Stock 5,000   5,000 D  
Stock Options (Right to Buy) $ 10.35             06/03/2003 06/03/2012 Common Stock 5,000   5,000 D  
Stock Options (Right to Buy) $ 8.52             06/01/2005 06/01/2014 Common Stock 7,500   7,500 D  
Stock Options (Right to Buy) $ 14.22             06/01/2006 06/01/2015 Common Stock 7,500   7,500 D  
Phantom Stock (1) $ 0 (2)               (3)   (4) Common Stock 5,077.54   5,077.54 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HAMADA ROBERT S
3400 NORTH WOLF ROAD
FRANKLIN PARK, IL 60131		   X      

Signatures

 Sherry L. Holland, Attorney-in-Fact   05/30/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each share of Phantom Stock is the economic equivalent of one share of Common Stock. The shares of Phantom Stock becomes payable in cash or Common Stock at the election of the director upon his termination of service as a director.
(2) Phantom Stock acquired under a Directors' Deferred Compensation Plan. These shares will be valued on the date of the director's departure from the board.
(3) Phantom Stock acquired under a Directors' Deferred Compensation Plan. These shares will become exercisable upon the director's departure from the Board
(4) Phantom Stock acquired under a Directors' Deferred Compensation Plan. These shares expire three years from the director's departure from the Board

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