SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                  SCHEDULE 13G



                    Under the Securities Exchange Act of 1934
                                (Amendment 1)*


                        Schnitzer Steel Industries, Inc.
                        ---------------------------------
                                (Name of Issuer)


                                  Common Stock
                                  -------------
                         (Title of Class of Securities)


                                    806882106
                                    ---------
                                 (CUSIP Number)

                 December 31, 2001 (Date of Event Which Requires
             Filing of this Statement) Check the appropriate box to
              designate the rule pursuant to which this schedule is
                                     filed:
                                (X) Rule 13d-1(b)
                                ( ) Rule 13d-1(c)
                                ( ) Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

                        (Continued on following page(s))






-------------------------------------------------------------
 1)      Name of Reporting Person           SAFECO Asset Management
         S.S. or I.R.S. Identifica-                  Company
         tion No. of Above Person
---------------------------------------------------------------
2)       Check the Appropriate Box          (a)
         if a Member of a Group             ___________________________
         (See Instructions)                 (b)
---------------------------------------------------------------
3)       SEC Use Only
---------------------------------------------------------------
4)       Citizenship or Place of             State of Washington
         Organization
---------------------------------------------------------------
Number of       (5) Sole Voting
Shares Bene-         Power                  0
ficially           ___________________________________________________
Owned by       (6) Shared Voting
Reporting              Power                302,600
Person With       ___________________________________________________
                  (7) Sole Disposi-
                      tive Power            0
                  ---------------------------------------------------
                  (8) Shared Dispositive
                      Power                 302,600
                  ----------------------------------------------------
9)       Aggregate Amount Beneficially
         Owned by Reporting Person          302,600(1)
---------------------------------------------------------------
10)      Check if the Aggregate
         Amount in Row (9) Excludes
         Certain Shares (See Instructions)
---------------------------------------------------------------
11)      Percent of Class Represented
         by Amount in Row 9                 6.2%
---------------------------------------------------------------
12)      Type of Reporting Person           IA
         (See Instructions)
--------
     1            The Reporting Person disclaims any beneficial ownership of the
                  shares  reported on this joint 13G.  The  reported  shares are
                  owned  beneficially  by  registered  investment  companies for
                  which the Reporting Person serves as an adviser.

---------------------------------------------------------------
1)       Name of Reporting Person           SAFECO Corporation
         S.S. or I.R.S. Identification
         No. of Above Person
---------------------------------------------------------------
2)       Check the Appropriate Box          (a)
         if a Member of a Group             ___________________________
         (See Instructions)                 (b)
---------------------------------------------------------------
3)       SEC Use Only
---------------------------------------------------------------
4)       Citizenship or Place of             State of Washington
         Organization
---------------------------------------------------------------
Number of       (5) Sole Voting
Shares Bene-         Power                  0
ficially           ___________________________________________________
Owned by       (6) Shared Voting
Reporting              Power                380,000
Person With       ___________________________________________________
                  (7) Sole Dispositive
                                Power       0
                  ---------------------------------------------------
                  (8) Shared
                        Dispositive Power   380,000
---------------------------------------------------------------
9)       Aggregate Amount Beneficially
         Owned by Reporting Person          380,000(2)
---------------------------------------------------------------
10)      Check if the Aggregate
         Amount in Row (9) Excludes
         Certain Shares (See Instructions)
---------------------------------------------------------------
11)      Percent of Class Represented
         by Amount in Row 9                 7.8%
---------------------------------------------------------------
12)      Type of Reporting Person           HC
         (See Instructions)
-------
2    The  Reporting  Person  disclaims  any  beneficial  ownership of the shares
     reported on this joint 13G. The reported  shares are owned  beneficially by
     registered  investment  companies  for which a subsidiary  of the Reporting
     Person  serves  as  adviser  and by  employee  benefit  plans for which the
     Reporting Person is a plan sponsor.







Item 1(a).        Name of Issuer:  See front cover

Item 1(b).        Address of Issuer Principal Executive Offices:

                  3200 Northwest Yeon Avenue
                  Portland, OR  97296-0047

Item 2(a).        Name of Person(s) Filing:  See Item 1 on cover page (pp 2-3).

Item 2(b).        Address of Principal Business Office or, If None, Residence:

                  SAFECO Corporation:  SAFECO Plaza, Seattle, WA  98185

                  SAFECO Asset Management Company:
                        601 Union Street, Suite 2500, Seattle, WA  98101

Item 2(c).        Citizenship:   See Item 4 on cover page (pp 2-3).

Item 2(d).        Title of Class of Securities:   See front cover page.

Item 2(e).        CUSIP Number:   See front cover page.

Item 3.           If this  statement  is filed  pursuant to Rules  13d-1(b) or
                  13d-2(b) or (c), check whether the persons filing are:

         (a)( )Broker or Dealer registered under Section 15 of the Act.
         (b)( )Bank as defined in Section 3(a)(6) of the Act.
         (c)( )Insurance Company as defined in Section 3(a)(19) of the Act.
         (d)( )Investment Company registered under Section 8 of the Investment
                Company Act of 1940.
         (e)(X)Investment Advisor registered under Section 203 of the Investment
                Advisers Act of 1940.
         (f)( )Employee Benefit Plan, Pension Fund which is subject to
               provisions of Employee Retirement Income Security Act of
               1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F).
         (g)(X)Parent Holding Company in accordance with Rule 13d-1(b)(ii)(G).
         (h)( ) Savings Association as defined in Section 3(b) of the
                Federal Deposit Insurance Act.
         (i)( ) Church Plan that is excluded from the definition of an
                investment company
                under Section 3(c)(14) of the Investment Company Act of 1940.
         (j)( )Group, in accordance with Rule 13d-1(b)(1)(ii)(H).







Item 4.  Ownership:

                  Items (a) through (c): See items 1 and 5-11 of the cover pages
(pp 2-3).

                  SAFECO  Asset  Management   Company  and  SAFECO   Corporation
                  expressly  declare  that  the  filing  of  this  statement  on
                  Schedule 13G shall not be construed as an admission  that they
                  are,  for the  purposes  of  Section  13(d)  or  13(g)  of the
                  Securities and Exchange Act of 1934, the beneficial  owners of
                  any  securities  covered  by  this  statement.  Each  of  such
                  companies is filing this statement because it is considered an
                  indirect  beneficial  owner  of such  securities  based on its
                  ownership  or control of one or more  investment  companies or
                  its  sponsorship of employee  benefit plans which directly own
                  such shares.

Item 5.  Ownership of 5% or Less of a Class:  Not applicable.

Item 6.  Ownership of More than 5% on Behalf of Another Person:  Not applicable.

Item 7.  Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported on by the Parent Holding
                  Company.

                  SAFECO Asset  Management  Company is the  subsidiary  on which
                  SAFECO Corporation is reporting as the parent holding company.
                  SAFECO Asset  Management  Company is an investment  adviser as
                  specified  in Item 12 on the cover page (p.  2), and  reported
                  shares  are  owned   beneficially  by  registered   investment
                  companies for which SAFECO Asset Management  Company serves as
                  investment adviser.

Item 8.  Identification and Classification of Members of the Group.
                Not applicable.

Item 9.  Notice of Dissolution of Group.  Not applicable.

Item 10.Certification.

                  By signing  below I certify  that, to the best of my knowledge
                  and belief, the securities referred to above were acquired and
                  are  held in the  ordinary  course  of  business  and were not
                  acquired  and are not  held  for the  purpose  of or with  the
                  effect of changing or influencing the control of the issuer of
                  such  securities  and  were not  acquired  and are not held in
                  connection with or as a participant in any transaction  having
                  that purpose or effect.








Exhibits.

                  The statement required by Rule 13d-1(f) is attached as Exhibit
A.


Signature.

                  After  reasonable  inquiry and to the best of my knowledge and
                  belief,  I  certify  that the  information  set  forth in this
                  statement is true, complete and correct.


Date:    January 25, 2002                            SAFECO Corporation



                                                By       /s/ Ronald L. Spaulding
                                                 -------------------------------
                                                  Ronald L. Spaulding, Treasurer


                                                 SAFECO Asset Management Company



                                                 By       /s/ David H. Longhurst
                                                  ------------------------------
                                                   David H. Longhurst, Secretary







                                    EXHIBIT A



Agreement for filing Schedule 13-G.

Pursuant to the  requirements  of Regulation  13d-1(d),  SAFECO  Corporation and
SAFECO Asset Management Company each agree that Schedule 13-G filed by them with
regard to Schnitzer Steel Industries,  Inc.'s common stock is filed on behalf of
each of them.


Date:    January 25, 2002                            SAFECO Corporation



                                                By       /s/ Ronald L. Spaulding
                                        ----------------------------------------
                                                  Ronald L. Spaulding, Treasurer


                                                 SAFECO Asset Management Company



                                                 By       /s/ David H. Longhurst
                                      ------------------------------------------
                                                   David H. Longhurst, Secretary