UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

~~Pursuant~~PURSUANT toTO ~~Section~~SECTION 13 orOR 15(d) ofOF ~~the Securities Exchange Act of 1934~~THE

~~Date~~SECURITIES ofEXCHANGE ~~Report~~ACT ~~(Date~~OF ~~of earliest event reported): April 6, 2010~~1934

Date of Report: May 4, 2010

ALLOY STEEL INTERNATIONAL, INC.

(Exact ~~name~~Name of ~~registrant~~Registrant as ~~specified~~Specified in ~~charter~~Charter)

Delaware		0-32875	98-0233941
DELAWARE	000-32875	98-0233941
(State or Other Jurisdiction of Incorporation)		(Commission File Number)	(IRS Employer Identification No.)
(State or other jurisdiction of incorporation)	Commission File Number)	IRS Employer Identification No.)

~~Alloy~~42 ~~Steel~~MERCANTILE ~~International,~~WAY ~~Inc.~~MALAGA

42P.O. ~~Mercantile~~BOX ~~Way~~3087 ~~Malaga~~MALAGA DC 6945

P.O. Box 3087 Malaga D C 6945

Western Australia

(Address of principal executive offices)

Registrant’s telephone number, including area code: +61 (8) 9248 3188

~~(Issuer’s~~ITEM ~~telephone~~2.02 ~~number~~Results of Operations and Financial Condition

~~Check~~Preliminary ~~the~~Half ~~appropriate~~Year ~~box~~Profit ~~below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):~~Advice

~~o Written~~Mr ~~communications~~G ~~pursuant~~Kostecki, Chief Executive Officer of Alloy Steel International Inc, is very pleased to ~~Rule~~advise ~~425~~the ~~under~~market of the ~~Securities~~company’s ~~Act~~profit ~~(17~~performance ~~CFR~~for ~~230~~the period ending March 31, 2010, being the first six months of the company’s fiscal year.~~425)~~

~~o Soliciting~~It ~~material~~must ~~pursuant~~be emphasized that these results are still subject to ~~Rule~~final ~~14a-12~~audit ~~under~~review, ~~the~~but ~~Exchange~~no ~~Act~~material ~~(17~~changes ~~CFR~~to ~~240~~the figures are anticipated.~~14a-12)~~

~~o Pre-commencement~~The ~~communications~~profit ~~pursuant~~before totaxation ~~Rule~~for ~~14d-2(b)~~the period under ~~the~~review ~~Exchange~~was ~~Act~~$3,919,036 (172009 ~~CFR~~$119,164) ~~240~~an increase of $3,799,872.~~14d-~~ After taxation impost, the amount attributable to stockholders was $2~~(b))~~,617,540.

~~o Pre-commencement~~This ~~communications~~profit ~~pursuant~~was togenerated ~~Rule~~on ~~13e-4(c)~~sales ~~under~~of ~~the~~$10,970,952 ~~Exchange Act~~ (172009 ~~CFR 240.13e-4(c~~$3,325,278)).

~~Item~~Mr ~~1.01~~Kostecki ~~Entry~~commented ~~into~~that this is truly an outstanding result, a ~~Material~~tribute ~~Definitive~~to ~~Agreement~~the employees of the company and further proof that the previous downturn in the mining industry is reversing.

OnThe ~~April~~company 6,is ~~2010,~~expecting ~~Alloy~~this ~~Steel~~trend ~~International,~~to ~~Inc.~~continue ~~(the~~and ~~“Company”)~~at ~~entered~~April ~~into~~30, ~~an Indemnification Agreement (the “Indemnification Agreement”) with Alvin Tan~~2010, athere ~~recently~~were ~~appointed~~confirmed ~~independent~~orders ~~director~~ of ~~the Company~~$8,650,000 aswaiting ~~reflected~~to ingo ~~Section~~into 5production.~~02.~~

~~The~~As ~~Indemnification Agreement provides indemnification in addition to~~ the ~~indemnification~~market ~~provided~~will byperceive the ~~Company’s~~company ~~certificate~~is ofstarting ~~incorporation,~~to ~~by-laws~~garner ~~and~~the ~~applicable~~benefits ~~law. Among~~from ~~other things,~~ the ~~Company~~new ~~agrees~~super toArcoplate ~~advance~~released ~~or reimburse expenses incurred by Mr. Tan~~ in ~~certain~~the ~~proceedings,~~latter ashalf ~~described~~of inlast ~~the Indemnification Agreement~~year.

The ~~foregoing~~company ~~description~~expects ofto lodge the ~~Indemnification~~10Q ~~Agreement~~for isthe aperiod ~~general~~early ~~description only and is qualified~~ in ~~its entirety by reference to~~ the ~~Indemnification~~second ~~Agreement,~~week ~~a copy~~ of ~~which is filed as Exhibit 10.1 to~~ this ~~report and is incorporated herein by reference~~month.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective April 6, 2010, the Board of Directors, or the Board, of the Company increased the number of members of the Board from two (2) to three (3) and appointed Alvin Tan to serve as an independent director of the Company until the annual meeting of the Company’s stockholders or until his successor is elected and qualifies.

In addition, Mr. Tan has been appointed to the Company’s Special Committee, which was approved and formed by the Board on April 6, 2010. The Special Committee was formed to direct the efforts of the Corporation to handle the ongoing Financial Industry Regulatory Authority (“FINRA”) inquiry reflected in Section 8.01, to commence an internal investigation regarding the matters underlying such inquiry, and to recommend to the Board policies and procedures designed to achieve full compliance with U.S. securities laws and related best practices.

Alvin Tan, age 39, has over 15 years corporate experience in Australia and Asia, including mergers, acquisition, listings (ASX, AIM, KLSE, Germany) and capital raisings. Mr. Tan studied at the University of Western Australia, gaining a Bachelor of Commerce with honors, and then was employed by KPMG in Kuala Lumpur from 1993-1995 as a financial consultant. Returning to Australia, he worked with the stockbroking firm of D J Carmichael. He was a founding director of various companies listed by the Australian Securities Exchange (ASX) http://www.asx.com.au including DKN Financial Group Limited.

There is no agreement or understanding between Mr. Tan and any other person pursuant to which he was appointed to the Board and Mr. Tan has not had any transactions with the Company or any of its subsidiaries, and there is no family relationship among the Company’s officers and directors and Mr. Tan.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On April 6, 2010, the Board of Directors of the Company amended Article III, Section 13 of the Company’s bylaws to provide that the Board may designate committees that consist of one or more of the directors of the Corporation, as opposed to requiring a minimum of three directors serve on each committee. This summary of the amendment to the bylaws of the Company is qualified in its entirety by reference to the First Amendment to the Bylaws of Alloy Steel International, Inc., attached as Exhibit 3.1 to this report.

8.01 Other Events.

In October 2009, the Company received a request for information from FINRA in connection with a review of unusual trading activity in the Company’s common stock during the period of July 6, 2009 through September 4, 2009. The Company has formed a Special Committee, which will direct the efforts of the Corporation to handle the ongoing FINRA inquiry and commence an internal investigation regarding the matters underlying such inquiry. FINRA has advised the Company that the inquiry should not be construed as an indication that the staff has determined that violations of FINRA Conduct Rules or U.S. Federal Securities laws have occurred, or as a reflection of the merits of the securities involved or upon any person who effected transactions in such securities. The Company is cooperating in providing the information requested.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished as part of this Report:

Exhibit No.		Description
3(ii)		First Amendment to the Bylaws of Alloy Steel International, Inc.
10.1		Indemnification Agreement

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ALLOY STEEL INTERNATIONAL, INC.
Date: April 6, 2010	By:	/s/ Alan Winduss
Date: May 4, 2010		By:	/s/ Alan Winduss
		Alan Winduss,
			Alan Winduss
		Chief Financial Officer &
			Chief Financial Officer
		Secretary

ALLOY STEEL INTERNATIONAL, INC.

EXHIBIT INDEX

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits:

Exhibit No.		Description
3(ii)		First Amendment to the Bylaws of Alloy Steel International, Inc.
10.1		Indemnification Agreement

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