SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PLAYFORD GILBERT E (Last) (First) (Middle) C/O NOVAMERICAN STEEL INC. 1050 UNIVERSITY AVENUE (Street) NORWOOD MA 02062 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol NOVAMERICAN STEEL INC. [ TONS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/21/2008
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

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								1,955,470	I	Held through a limited partnership(1)
Common Stock	11/21/2008		P		7,600	A	$0.65	2,015,644	I	Held by trust(2)
Common Stock	11/24/2008		P		10,903	A	$0.58(8)	2,026,547	I	Held by trust(2)
Common Stock								12,943	I	Held through a limited partnership(5)
Common Stock								182,243	I	Held through a limited partnership(6)
Common Stock								579,766	I	Held through a limited partnership(3)
Common Stock								776,869	I	Held by trust(4)
Common Stock								67,108	I	Held by spouse by trust(7)

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 Securities Underlying Derivative Security (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: 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
Warrants	$5.5	11/25/2008		P		13,310		03/07/2008	03/07/2011	Common Stock	13,310	$0.05	1,887,605	I	Held by trust(2)
Warrants	$5.5	11/25/2008		P		100		03/07/2008	03/07/2011	Common Stock	100	$0.33	1,887,705	I	Held by trust(2)

1. Name and Address of Reporting Person* PLAYFORD GILBERT E (Last) (First) (Middle) C/O NOVAMERICAN STEEL INC. 1050 UNIVERSITY AVENUE (Street) NORWOOD MA 02062 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Gilbert E. Playford Revocable Trust (Last) (First) (Middle) 5200 ST. ANDREWS ISLAND DRIVE (Street) VERO BEACH FL 32967 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These securities are held directly by Playford SPAC Portfolio, Ltd. ("Portfolio"), a limited partnership of which Mr. Playford is a 24.8% limited partner and Playford's Grantor Retained Annuity Trust is a 75% limited partner. The remaining 0.2% of the outstanding partnership interest is owned by the general partner of Portfolio, Playford SPAC Management Corp., of which Playford is the sole beneficial and record owner.

2. These securities are held by Gilbert E. Playford Revocable Trust, a revocable trust, of which the reporting person is the settler and sole trustee.

3. Represents the reporting person's pecuniary interest in the securities owned by Playford Holding, Ltd., a partnership of which Mr. Playford is the general partner.

4. Represents the reporting person's pecuniary interest in the Gilbert E. Playford 2007 Charitable Remainder Trust U/A/O 6/12/07, a trust of which the reporting person is trustee.

5. Represents the reporting person's pecuniary interest in the securities held by Playford Family Limited Partnership. The sole general partner of Playford Family Limited Partnership is Playford Management LLC, of which the reporting person is the sole member. The general partner holds .653% of the outstanding partnership interests. The remainder of the reporting person's pecuniary interest in Playford Family Limited Partnership is held through Gilbert E. Playford Revocable Trust, a revocable trust, of which the reporting person is the settler and sole trustee. Gilbert E. Playford Revocable Trust, a limited partner, holds 10% of the outstanding partnership interests. The remaining outstanding partnership interests (89.347%) are held by two limited partners, each of which is an irrevocable trust he created for his children who are neither members of his household nor supported by him. The reporting person is not a trustee of either irrevocable trust.

6. The reported securities are held by Playford Grandkids Limited Partnership whose sole general partner and 0.1% owner is Playford Management LLC, of which the reporting person is the sole member. All of the outstanding limited partnership interests of such limited partnership are held by the 2007 Playford Grandkids Gift Trust U/A/D 5/2/07. The reporting person disclaims beneficial ownership of such securities except as to his pecuniary interest therein.

7. These securities are held by the Cheryle Darlene Playford Revocable Trust, of which the reporting person's spouse is the sole trustee.

8. Constitutes the weighted average purchase price for multiple transactions reported on this line having prices per share ranging from $.50 to $.60. The Reporting Persons will provide upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding each separate transaction.

Remarks:

	/s/ Karen G. Narwold, as Attorney-in-Fact	11/25/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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