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                                                                   EXHIBIT 23.01
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the Reliance Steel & Aluminum Co. 1994 Incentive and
Non-Qualified Stock Option Plan and the 1989 Employee Non-Qualified Stock Option
Plan of our report dated February 9, 1999, with respect to the consolidated
financial statements and schedule of Reliance Steel & Aluminum Co. included in
the Annual Report (Form 10-K) for the year ended December 31, 1998.
 
/s/ ERNST & YOUNG LLP
Long Beach, California
March 29, 1999