Cold bonded briquetting of steel plant by-products has proven to be a viable recycling alternative concerning technology, economy and environment in both the traditional blast furnace route and the direct reduction process. A critical parameter in cold bonded briquettes is the type and amount of binder used during production. The binder material must meet certain quality requirements concerning low and high temperature strength, chemistry and economy. Currently, SSAB Tunnplåt uses ordinary Portland cement (OPC) as binder in their cold bonded briquettes. In order to improve binder quality and possibly decrease OPC dependency, a binder feasibility study has been conducted concerning an internal by-product, ladle slag, as a supplement and/or partial substitute for OPC. Several characterization techniques have been used to study the behaviour of ladle slag, these include: XRD, XRF, SEM, glass content analysis, calorimetric analysis, particle size distribution and thermochemical stability considerations concerning the CaO-Al2O3-SiO 2 system.