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This document specifies guidelines and requirements for conducting life cycle inventory (LCI) studies of steel products reflecting steel's capacity for closed-loop recycling, including: a) specification of the functional unit used for LCI calculation of steel products; b) definition of the system boundaries used for LCI calculation of steel products; c) evaluation of scrap in LCI calculation of steel products; d) evaluation of co-products in LCI calculation of steel products; e) reporting of LCI calculation results of steel products. The application of LCI results, including life cycle impact assessment (LCIA), is outside the scope of this document.