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The biggest challenge for our society, in order to foster the sustainable circular economy, is the efficient recycling of wastes from industrial, commercial, domestic and other streams. The transition to a circular economy is the goal of the European Commission’s Circular Economy Action, which was first launched in 2015. In 2020 the above action plan announced initiatives along the entire life cycle of the product, with the aim to make sustainable products the norm in the EU. Therefore, it is anticipated that the above action will result in an increase in Europe’s economic competitiveness, sustainability, resource efficiency and resource security. Within this context, the suitability of ferroalumina as a raw material in the blast furnace is investigated. Ferroalumina is the product of the high-pressure filter press dewatering process of the Greek red mud generated during the production of alumina by means of the Bayer cycle. Ferroalumina is a low-cost raw material and its possible charging in the blast furnace and/or steelmaking aggregates is a step towards industrial symbiosis, where the wastes, namely by-products, of an industry or an industrial process, become the raw materials for another. In the present work the effect of ferroalumina addition as a raw material was examined by smelting ferroalumina, blast furnace-slag, lime and scrap at 1550°C in a graphite crucible and a constant slag basicity. The increase of the alumina content in the slag improves the desulfurization capacity. Moreover, the silicon exchange between slag and metal was examined. The results indicate that the alkalis’ capacity of the slag increases with the addition of ferroalumina. The analysis of the finally obtained slag suggests that it could be suitable for utilization in slag-cement production.