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 17, 2002,
included in the 2002 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, the 1989 Incentive Stock Option Plan, as amended, and
the 2000 Non-Employee Director Stock Plan of our report dated May 17, 2002, with
respect to the consolidated financial statements incorporated herein by
reference, and our report included in the preceding paragraph with respect to
the financial statement schedules included in this Annual Report (Form 10-K) of
Friedman Industries, Incorporated.

Houston, Texas
June 27, 2002