China is the world leader iron and steel producer in the world. China steel consumption and production alone holds more than half of the world steel production in these recent years. This flood of supply, together with the huge sources of materials cause the occurrence of an economic problem. When the amount of supply and demand is unbalance, it cause the material market price to drop. Over the last decades iron price have decreased rapidly. According the London Metal Exchange, their database shows that in 2008, steel billet price is over 1000 USD per tonne. However, in 2016, one tonne of steel only worth about 300 USD. Many high cost producers have to lower the price and facing the risk of closing their furnaces. The newspaper the Economists have raisen a question: Is there too much iron in the world? They made a good point in bringing up the oversupply of steel in the world. However, they did not show any acknowledgement in the demand. Iron and its alloy can be applied in anything from constructions, machineries, to even medical application. Many countries right now doesn’t even have efficient railroad or proper houses. With scrap steel, being one of the cheapest green material and in this period when the world is heading toward an eco-friendly living environment, the application of steel scrap can be applied almost anywhere. Therefore, more potential uses of iron need to be found and approached. Iron is the most widely used metal in the world. It has been developed for centuries and has improved significantly to reach its qualities and a wide range of varieties in alloys like today. There are many concerned around the effect of iron production on the environment. However, with the apply of science and advancing technology, an even more promising future in a eco-friendly environment for >