The institute was organized to promote the use of iron and steel, collect and distribute statistical information concerning iron and steel, engage in investigation and research of a scientific or technical nature into matters of benefit to the iron and steel industry, and to provide a forum for the exchange of information and the discussion of problems relating to the industry.

Investigation and research of scientific or technical matters that are of significance to the iron and steel industries and the government. the institute conducts meetings and other similar forums at which industry participants may further their knowledge of industry specific issues. collection, analysis and distribution of statistical and other information through the publication of various industry specific issues.