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                                                                    EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-3 of our report dated
January 26, 1995 appearing on page 18 of RMI Titanium Company's Annual Report on
Form 10-K for the year ended December 31, 1994. We also consent to the use in
this Prospectus of our report dated January 26, 1996 relating to the financial
statements of RMI Titanium Company, which appears in such Prospectus. We also
consent to the reference to us under the heading "Experts" in such Prospectus.
 
PRICE WATERHOUSE LLP
Pittsburgh, Pennsylvania
March 6, 1996