"While magnetite is generally a lower-grade deposit, it is...

"While magnetite is generally a lower-grade deposit, it is globally accepted as a viable and high-quality feedstock for the production of premium quality, low impurity steel."

"Steel mills are now buying increasing volumes of high-grade, low impurity magnetite concentrate to supplement declining supplies of high-grade lump ore, in order to maintain the quality of their final product."

Steel can be produced at lower temperatures using Magnetite reducing energy costs...
...lower impurities also means less down-time to clean scale from furnaces.