Most of the iron produced is used to make steel. The first known steel application dates as far back as 11th century BC, in Cyprus where archaeologists found material suggesting that steel knives were already being made. Four centuries later, the Greek historian Herodotus referred to steel-inlaid bowls and, in the 3rd century BC, South Indian craftsmen were known to produce steel by smelting wrought iron with charcoal, using clay containers.
According to the World Steel Association, steel is the most used alloy in the world. Global steel consumption is forecast to grow by 1%-2% per annum over the next decade.
The primary objective of iron making process is to release iron from chemical combination with oxygen. Steel is primarily produced using one of two methods: Blast Furnace or Electric Arc Furnace. The blast furnace uses coke, iron ore and limestone to produce pig iron. The Electrical Arc Furnace is different from the blast furnace as it produces steel by using an electrical current to melt scrap steel, direct reduced iron, and/or pig iron, to produce molten steel.