EXHIBIT (B)(3)    
                           
                        CONSENT OF BT ALEX. BROWN     
   
  We hereby consent to the inclusion in the Schedule 13E-3 relating to the
proposed merger involving MTL Inc. and Sombrero Acquisition Corp., of our
opinion letter appearing as Annex B to the Proxy Statement that is part of the
Schedule 13E-3 and to the use of our name under the captions "Summary--Opinion
of Financial Advisors," "Special Factors--Background of the Merger," "Special
Factors--Reasons for the Merger; Recommendation of the Board of Directors,"
and "Special Factors--Opinion of BT Alex. Brown, Financial Advisor to MTL"
therein.     
   
  In giving such consent, we do not thereby admit that we come within the
category of persons whose consent is required under the Securities Exchange
Act of 1934, as amended, or the rules adopted thereunder, nor do we admit that
we are "experts" with respect to any part of the Schedule 13E-3.     
                                                     
                                                  /s/ BT Alex. Brown     
                                          -------------------------------------
                                                   BT Alex. Brown     
   
New York, New York     
April 2, 1998