This process ultimately produces steel from iron pellets mixed with scrap iron. When melted, the impurities (combined with the Calcium Oxide), form a surface slag to ease their removal.
Yet those products had some regulation and oversight and authorities still missed one of the biggest scams of all time when it all melted down in 2007-2008, socked American taxpayers with a multi-trillion dollar bill and vaporized some 10 million jobs.