Which of the following steel production methods primarily utilizes scrap steel? Option: Electric Arc Furnace (EAF), Basic Oxygen Furnace (BOF), Pellet Processing, Sintering

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Which of the following steel production methods primarily utilizes scrap steel?

Electric Arc Furnace (EAF)

Basic Oxygen Furnace (BOF)

Pellet Processing

Sintering

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What is the primary raw material used by mini-mills for steel production?

Coke

Limestone

Scrap steel

Iron ore

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What is a major cost center for steelmakers?

Power and fuel

Employee salaries

Marketing and advertising

Research and development

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What is the likely impact of the circular economy on the steel industry?

Higher production costs

Increased share of recycling

Reduced reliance on recycled steel

Increased demand for new steel products

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What is a characteristic of steelmaking as a business?

Low-skilled workforce

Labor-intensive

Technology-driven

Asset-heavy

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What is a significant factor contributing to the limited supply of scrap steel?

Government restrictions on scrap trading

Increased efficiency in steel product designs

High cost of scrap collection

Low demand for recycled steel