6-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 6-K

          REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-15 AND 15d-16
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                        FOR THE PERIOD NOVEMBER 26, 2002

                                   IPSCO INC.
                          (COMMISSION FILE NO. 0-19661)

              P.O. BOX 1670, REGINA, SASKATCHEWAN, CANADA, S4P 3C7
                            TELEPHONE: (306) 924-7700
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

(Indicate by x mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)

                  Form 20-F       [_]             Form 40-F       [X]

(Indicate by x mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                  Yes     [_]                     No      [X]

(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-________.



                                  EXHIBIT INDEX


         EXHIBIT NO.            DESCRIPTION
         -----------            -----------

             1.                 News Release dated November 26, 2002




                                    SIGNATURE

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


                                   IPSCO Inc.
Date: 27 November 2002
                                   By:  /s/ John Comrie
                                        ---------------------------------------
                                        John Comrie
                                        Secretary

EX-99

                                                                       EXHIBIT 1
                                                                       ---------



[GRAPHIC OMITTED]                                       NEWS RELEASE
[LOGO - IPSCO]


================================================================================

FOR IMMEDIATE RELEASE

MEDIATION UNSUCCESSFUL - FINAL OFFER GIVEN

[Regina, Saskatchewan], [November 26, 2002] - IPSCO Inc. (TSX/NYSE:IPS)
announced today that efforts to reach a mediated settlement with its workers in
Regina and Calgary, who are represented by the United Steelworkers of America,
have been unsuccessful. A final offer containing increased wages, a substantial
pension improvement, expanded health, life and short-term disability insurance
coverage, continued COLA and Profit Sharing was given by IPSCO to the Union's
bargaining committee. In response, the Union has served the Company with 48
hours notice of its intention to strike in Saskatchewan and 72 hours notice of
its intention to strike in Alberta. IPSCO is uncertain of the Union's intentions
with regard to asking its membership to vote on the offer before taking strike
action.

IPSCO anticipates that contingency operating plans using its broad range of
facilities will allow the Company to continue to supply its customers on an
ongoing basis. The financial consequences of any work stoppage on the Company
are under assessment.

For further information on IPSCO, please visit the Company's web site at
WWW.IPSCO.COM.

THIS NEWS RELEASE CONTAINS FORWARD-LOOKING INFORMATION WITH RESPECT TO IPSCO
INC.'S OPERATIONS AND BELIEFS. ACTUAL RESULTS MAY DIFFER FROM THESE
FORWARD-LOOKING STATEMENTS DUE TO NUMEROUS FACTORS INCLUDING UNION ACTIVITIES,
POTENTIAL MARKETS AND DEMAND FOR THE MATERIALS PRODUCED, PRODUCTION LEVELS,
MARKET FORCES, AND DOMESTIC PRICING OF STEEL PRODUCTS. THESE AND OTHER FACTORS
ARE OUTLINED IN IPSCO INC.'S REGULATORY FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION, INCLUDING THOSE IN IPSCO INC.'S ANNUAL REPORT FOR 2001, ITS MD&A AND
FORM 40-F.

Company Contact:
Kelly Brossart
IPSCO
Tel. (306) 924-7475
Release #02-32



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