FORM 8-K
                     SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                              ---------------


             CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                    THE SECURITIES EXCHANGE ACT OF 1934


    Date of Report (date of earliest event reported):    October 7, 1996


                        KAISER ALUMINUM CORPORATION
           (Exact name of Registrant as Specified in its Charter)



                                  DELAWARE
               (State or other jurisdiction of incorporation)



                                   1-9447
                          (Commission File Number)



                                 94-3030279
                  (I.R.S. Employer Identification Number)




  5847 SAN FELIPE, SUITE 2600                77057-3010
        HOUSTON, TEXAS                       (Zip Code)
     (Address of Principal
      Executive Offices)



     Registrant's telephone number, including area code: (713) 267-3777



ITEM 5.   Other Events

               On October 7, 1996, Kaiser Aluminum & Chemical Corporation,
the operating subsidiary of the registrant, announced in a press release
that it proposes to make a Rule 144A offering of $175 million principal
amount of senior notes due 2006.  A copy of the press release issued in
this connection is incorporated by reference herein and is attached hereto
as Exhibit 99.


ITEM 7.   Financial Statements and Exhibits

               (c)  Exhibits

                         Exhibit 99:    Press Release dated October 7, 1996



                                 SIGNATURES


          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 hereunto duly authorized.

                              KAISER ALUMINUM  CORPORATION
                                          (Registrant)


Date:    October 10, 1996     By:        BYRON L. WADE           
                                         Byron L. Wade
                                   Vice President, Secretary and
                                   Deputy General Counsel


                                EXHIBIT INDEX


Exhibit 99.    Press Release dated October 7, 1996






                                                                 Exhibit 99

Public Relations: Bob Irelan
Telephone: 713/267-3722

Investor Relations: Scott Lamb
Telephone: 713/267-3826



                                                            October 7, 1996
                                      

         KAISER ALUMINUM & CHEMICAL CORPORATION ANNOUNCES PROPOSED
             RULE 144A OFFERING OF $175 MILLION OF SENIOR NOTES
                                      

               HOUSTON, Texas, October 7, 1996 -- Kaiser Aluminum &
Chemical Corporation (KACC), the operating subsidiary of Kaiser Aluminum
Corporation (KAC), announced today that it proposes to make a Rule 144A
offering of $175 million principal amount of senior notes due 2006.
               KACC expects to use the proceeds from the offering to pay
down revolving credit debt and for general corporate purposes, including
capital spending projects.
               The senior notes will not be registered under the Securities
Act of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
               KACC is one of the world's leading producers of alumina,
primary aluminum, and semi-fabricated aluminum products, and is a major
supplier of alumina and primary aluminum in the domestic and international
markets.  It is a wholly owned subsidiary of KAC (NYSE:KLU).  MAXXAM Inc.
(ASE:MXM) holds approximately 62 percent of KAC on a fully diluted basis.

                                   F-713
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