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Price didn't raise so far, or at least just a bit, not so much, in fact I gain a lot selling mechanical component
If you want to go totally cheap, just mine it yourself, but then your plant will have downtime when it's not producing steel. There's a lot of trade offs, you just gotta find the best balance. Another way you can save money is import the iron and coal base ore, which is cheapest, then refine it in the city.
IMO it is not very good idea to use massive imports for Steel Mill. You can do well if you need to run the steel mill under 20% but you will waste a lot if you will try to run it in higher output with imported materials even if you transport them from the border.
Just try to get at least one of the imputs from your own mines.
And you can push material into steel mill using automatic conveyor engine between aggregate storage and the steel mill..
Make up 2 iron processing plants and 4 coal processing plants. Connect them with conveyors to two separate magazines, and then connect those magazines to steel mill itself. Then set up buying iron ore and coal ore for processing plants.
It is cheaper in workforce than mining all the iron and coal (as mines consume a lot of people) and you still make nice profit from it.
I think usage of coal is much higher that it should, in some cases, so there may be a bug. It's like (I don't remember exactly) 400 tons of coal and 200 tons of iron for 40 tons of steel, in some case I noticed it consume more coal than it should
But I have an idea how to measure that. Set the steel mill to work from autopurchase and staff it to full capacity. Then check how many coal was imported that month. It should be 30*375 tons which is about 11.250 tons. And that is a lot. Uff!
I tried to test it but the main issue is you need lot of workers for that and autopurchase can supply only about 30-40% of coal needed, so you need autopurchase from multiple sources.