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                                                                    EXHIBIT 23.5


                       CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the use in the Prospectus constituting part of this
Registration Statement on Form S-1 of Philip Services Corp. of our report dated
April 7, 1997 relating to the combined statements of income and of cash flows
of Pechiney (ISW), Inc., PPC (ISW), Inc. and Intsel Southwest Limited
Partnership, which appears in such Prospectus. We also consent to the reference
to us under the heading "Experts" in such Prospectus.




/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP

Houston, Texas
September 25, 1997