EXHIBIT 23.1

                 Accountant's Consent and Report on Schedule

The Board of Directors
Sheffield Steel Corporation:

The audits referred to in our report dated June 27, 1997, included the related 
financial statement schedule as of April 30, 1997, and for each of the years in 
the three-year period ended April 30, 1997, included in the registration 
statement. This financial statement schedule is the responsibility of the 
Company's management. Our responsibility is to express an opinion on this 
financial statement schedule based on our audits. In our opinion, such financial
statement schedule, when considered in relation to the basic consolidated 
financial statements taken as a whole, presents fairly in all material respects
the information set forth therein.

We consent to the use of our reports included herein and the reference to our 
firm under the headings "Experts" and "Selected Historical Financial Data" in 
the prospectus.


                                        /s/ KPMG Peat Marwick LLP

Tulsa, Oklahoma
January 9, 1998