<PAGE> 1
EXHIBIT 23.1
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in this Annual Report (Form
10-K) of Friedman Industries, Incorporated of our report dated May 26, 2000,
included in the 2000 Annual Report to Shareholders of Friedman Industries,
Incorporated.
Our audits also included the financial statement schedule of Friedman
Industries, Incorporated listed in the response to Item 14(a). This schedule is
the responsibility of the Company's management. Our responsibility is to express
an opinion based on our audits. In our opinion, the financial statement schedule
referred to above, when considered in relation to the basic financial statements
taken as a whole, presents fairly in all material respects the information set
forth therein.
We also consent to the incorporation by reference in the Registration
Statement (Form S-8) pertaining to the 1996 Stock Option Plan, 1995 Non-Employee
Director Plan, as amended, and the 1989 Incentive Stock Option Plan, as amended,
of our report dated May 26, 2000, with respect to the financial statements and
schedule of Friedman Industries, Incorporated included in the 2000 Annual Report
to Shareholders of Friedman Industries, Incorporated.
/s/ ERNST & YOUNG LLP
---------------------
Houston, Texas
May 26, 2000
