Raw material feed into an electric arc furnace (“EAF”) is melted into heated liquid metal at a controlled temperature with impurities and inclusions removed as a separate liquid slag layer. The heated liquid metal is removed from the EAF into a passively heatable ladle wherein it is moved into a refining station where they are placed into a inductively heated refining holding vessel and wherein vacuum oxygen decarburization is applied to remove carbon, hydrogen, oxygen, nitrogen and other undesirable impurities from the liquid metal. The ladle and liquid metal is then transferred to a refining station/gas atomizer having a controlled vacuum and inert atmosphere wherein the liquid metal is poured from an inductively heated atomizing holder vessel into a heated tundish at a controlled rate wherein high pressure inert gas is applied through a nozzle to create a spray of metal droplets forming spherical shapes as the droplets that cool and fall into a bottom formed in the chamber. Spherical powder comprising the droplets are removed from the chamber through screen and blenders and then classified by size.