Exhibit 23(b)

                      CONSENT OF INDEPENDENT ACCOUNTANTS

We consent to the incorporation by reference in this registration statement on 
Form S-3 of our reports dated July 28, 1997, on our audits of the consolidated 
financial statements and the consolidated financial statement schedule of 
Carpenter Technology Corporation and subsidiaries as of June 30, 1997 and 1996 
and for each of the three years in the period ended June 30, 1997, which reports
are included in the Company's Annual Report on Form 10-K for the fiscal year 
ended June 30, 1997. We also consent to the reference to our Firm under the 
caption "Experts".

                                                    /s/ Coopers & Lybrand L.L.P.
                                                        ------------------------
                                                        Coopers & Lybrand L.L.P.

Philadelphia, Pennsylvania
January 19, 1998