Cotton-like aggregates (B) containing grinding chips from an iron-based metal and a grinding fluid containing oil and water are compression molded thereby forming a brittle compact (C) in which the fibrous grinding chips are roughly sheared and which is removed of excessive water and oil. The brittle compact (C) is crushed for further finely shearing the grinding chips and then, the resultant grinding chips are mixed with a solidification assistant(D) for obtaining powder (E) containing the solidification assistant(D). The powder (E) is solidified by compression molding, thereby forming a water-containing briquette (F). A briquette (A) for use as steelmaking material, which contains powdery pure iron and oil, is obtained by removing the water from the water-containing briquette (F). Without crushing the brittle compact (C), it is also possible to form the briquette (A) for use as steelmaking material by impregnating the brittle compact (C) with the solidification assistant(D) and then drying the compact. |