Glossary
Large integrated steelworks

Briquettes; HBI (Hot Briquetted Iron)

Hot-briquetted pre-reduced iron ore.

CAF (Cost, Insurance, and Freight); CIF (Cost, Insurance, and Freight)

Price including the costs necessary for shipment (product, transportation, and insurance).

FAB (Free on Board); FOB (Free On Board)

Price excluding transportation and insurance costs and taxes.

Currency Adjustment Factor (CAF)

A carrier charge covering exchange rate fluctuations.

Direct Reduction Iron (DRI)

Iron ore processed by direct reduction.

Pellets; pellets

Pellets (used as in French technical texts).

Smelting; smelting

Fusion-reduction, i.e., melting in the presence of a reducing agent resulting in the base metal (used as in French technical texts).